Praktiker posts operating profit of some 12 mln lei at six months

Praktiker has improved the financial results in the first half of this year, reporting operating profit of nearly 12 million lei triggered by the restructuring process launched after the Do-It-Yourself company was took over by Turkish businessman Omer Susli.

“April was the start of growth for Praktiker Romania and brought a positive operating profit for the first half of 2014. Hence, after only three months after the takeover, the operating profit for the second quarter of 2014 increased by 44 million lei compared to the first quarter of the same year and by 37 million lei over the similar period last year”, states of company release.

Besides the favorable impact of the efforts paid for optimizing costs related to utilities and services, the renegotiations of both agreements with tenants and contracts with suppliers, the financial improvement was also supported by higher sales which advanced by 10 percent compared to 2013, according to the company.

Praktiker has a retail chain comprising of 27 units in 23 locations in Romania, being the second largest player based on this criteria. In the coming months the company will open two new stores in Giurgiu and Targu-Jiu, according to Omer Susli who also anticipates a major expansion in the next two years, Prakitker aiming to increase the domestic network up to 45 units.