Best Computers chooses euro

Best Computers, one of the largest IT equipment retailers on the Romanian market, encountered difficulties in the first half of the year, triggered by the US dollar’s instability against the single European currency.

However, the company managed to post H1 turnover accounting for 75% of the sales recorded last year (in dollars).

“There was a time when we bought merchandise in euros and sold it in dollars,” says Teo Paduraru, one of the company’s founders. As the euro won the battle against the American currency in the first half, the Romanian company was posting losses. Therefore, Best Computers opted for the euro, just like many other domestic companies must have done this year. “When the euro-dollar gap became unbearable, we switched to the euro,” Paduraru says.

The decision was made just in time, as the H1 financial results show. Overall, Best group attained $7.5 million revenues in January – June 2003 (some 6.8 million euros according to the exchange rate at the end of last week). Besides the retail company Best Computers, Best group also controls video games distribution company Best Distribution and the IT security systems supplier Best Internet Security.

The group had reported $9.5 million turnover in 2002. Company officials expect total turnover to amount to some $16-$17 million this year (or 14.6-15.6 million euros). “We have learnt from experience that sales tend to increase in October, November and December as compared with the average level posted in the previous months,” Teo Paduraru explains. Best Computers sold about 3,000 complete IT systems (including notebooks) in the first half and plans to sell 8,000 for the entire year. iuliana.susanu@zf.ro