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Photo finish for second place in retail in H1

Competitors Domo and Flamingo, second and third- biggest, respectively according to turnover on the household appliance, electronic and IT&C retail equipment market, posted sales less than 1 million euros, with retail distribution attributing for the difference in terms of growth of business for both companies, at the end of the first six months of this year, the Business Standard writes on Friday.

Retail distribution was the key in the case of both businesses. While Domo's retail distribution was responsible for dragging down the company's growth pace, as clients are mostly independent traders who are beginning to disappear, Flamingo's sales in this area rose by 75 percent in H1, with its strategy oriented to corporate clients and institutions, and its largest partner Romtelecom.

Flamingo managed to recover the advance of over 20 million euros, which Domo posted by the end of 2007.

Domo reported income worth 345 million lei (some 94 million euros), the 30 percent growth lower than the 40 percent level initially estimated, due to a drop in its retail distribution division, the newspaper says on.

Flamingo International's business rose 54 percent by the end of the first six months compared to H1 2007, to over 342.4 million lei (93.3 million euros).

For the whole of 2008, Flamingo is maintaining its initial estimate of 210 million euros in turnover, while Domo revised its turnover downwards from 260 to 230-240 million euros.

Altex continues to top the market, reporting 170 million euros in turnover for H1 up 47 percent compared to the first six months in 2007, the Business Standard concluded.

 

Sursa: http://www.rompress.ro

Tags: million retail euros percent

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