Photo finish for second place in retail in H1

Retail distribution was the key in the case of both businesses. While Domo’s retail distribution was responsible for dragging down the company’s rhythm of growth, 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 being Romtelecom.

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

Domo reported income worth RON 345 mln (some €94 mln), the 30 percent growth lower than the 40 percent level initially estimated, due to a drop in its retail distribution division.

Flamingo International’s business rose 54 percent by the end of the first six months compared to H1 2007, to over RON 342.4 mln (€93.3 mln).

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

The market leader continues to be Altex, with a considerable advance. The company reported turnover for H1 of €170 mln, up 47 percent compared to the first six months in 2007.