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Flamingo estimates investments at about seven million euros

For this year the Flamingo International group estimates a net profit of 9.3 million lei (about 2.58 million euros) and the corresponding turnover might be 758 million lei (about 210 million euros), informs the company mentioned before.

The group also estimates investments at 26 million lei (about 7 million euros), especially by opening new stores. 'Flamingo closed down 45 small unprofitable shops last year and opened another 12 stores,' said Dragos Simion, chairman of the Board of Directors of the Flamingo International group. Last year Flamingo posted 9.5 million lei (about 2.87 million euros) in net profit, corresponding to 169.3 million lei (about 51.3 million euros) in turnover in keeping with the Romanian methodology of calculating financial indicators. This year the above-mentioned company expects a 35-40 percent rise in sales by credit on the relevant market as against 2007, against the background of the diversified financial offers and the customers' rising interest in buying by means of the credit systems. The Flamingo International group has been working in Romania since as early as 1994 and has been carrying out commercial activity in IT&C, electronics and home appliances. Sursa: http://www.rompress.ro

Tags: million euros about flamingo estimates

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