Sony Center budgets 20% growth

Electronics retail chain Sony Center has estimated turnover for this year of nearly 15 million euros, up 20% on 2004’s figure of 12 million euros. “We are relying on a 10-15% market growth this year and a 20% expansion for our 2005 turnover. Turnover last year increased to approximately 12 million euros against relative stagnation in the electronics market,” said Nicu Dumitrescu, sales manager of New Link, the company that manages the Sony Center network. He says the company’s gross profits came to 700,000 euros in the same period. One year ago, in 2003, New Line had a turnover of around 8.6 million euros and net profits of more than 300,000 euros, according to data from the Finance Ministry website. Company officials say the best-selling products in the Sony chain were TV sets, representing 40% of turnover, and video cameras at 25%. Although partnerships were established with Raiffeisen Bank and BRD for consumer loans, sales in 2004 through the hire-purchase system accounted for very little of the total at less than 10% of turnover. ZF