Electrolux sales up 23% in H1

The introduction of the minimal lending norms and the low purchasing power have slowed down the growth pace of Electrolux’ sales, as the company reported a 23% increase in turnover for the first half of the year, up to 2,059 billion ROL. In the corresponding period of last year, Electrolux had logged turnover worth 1,674 billion ROL, up 94% from the first six months of 2002. “In line with last year’s estimates, 2004 did see a slowdown in the sales of household devices,” Carmen Georgescu, the company’s marketing director said. According to Georgescu, the results posted by Electrolux are “good”, as the Romanian segment of household devices has “experienced a decline, generated by a more mature market.” ZF