Flamingo estimates €212 mln in turnover in 2008

The company expects a slight decrease of net profit, to RON 9.3 mln (€2.61 mln).
The investments planned for 2008 will amount to RON 26 mln (€7.3 mln). The funds will be invested mainly in new stores.
Last March, Flamingo International said it estimated a 23 percent increase in sales and net profit worth €2.6 mln for 2008.
According to company officials, the market value of Flamingo International amounted to €1 billion in 2007. They estimate an average annual increase of 15 percent, to reach €1.5 bln in 2010. The IT&C segment makes up 45 percent of Flamingo’s total sales.
By the end of 2007, the total sales area of the group’s stores amounted to 53,600 square meters. It is set to increase to 70,000 sqm in 2008.
The main players on electronics, household appliances and IT&C market are Altex, Domo, Flamingo and Teknosa-Primex.
Flamingo International is the only company in this industry listed on the stock market.