IT retailer Flanco profit hikes 3.8 times in 2015 over previous year

Newsroom 02/03/2016 | 17:04

Romanian IT retailer Flanco posted in 2015 profits 3.8 times higher than in 2014, reaching RON 8 million (EUR 1.8 million), Mediafax informs. The company’s turnover also reached a record level of RON 777 million (EUR 174.3 million), 17 percent higher than the numbers registered during the previous year, of RON 663 million (EUR 148.7 million).

During the second half of the year Flanco sold some 10,000 products of its own brand, Vsion, including air conditioning devices, kitchenware, TVs and phones.

According to Dragos Sirbu, the company’s general director, sales in this area did not go exactly to plan, especially in terms of appliances which did not raise up to expectations.

“We ended the year with 1,357 employees and 100 stores. […] We now have 104 stores, and in two days we will have 106. The commercial area is over 58,000 square meters,” Sirbu added.

Online, Flanco saw a 60 percent jump in sales last year. The company invested RON 10.6 million into 12 new stores, but also into improving its online presence.

For 2016 the company aims for a 20 percent advance in sales, on a market that is forecasted at a 12 to 14 percent growth.

Natalia Martian

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