Primex, operator of Teknosa, expecting 10% more sales in 2008

The company revised downwards prognoses for this year, to €27.2 mln from €34 mln forecast at the beginning of the year, following the closure of several unprofitable stores.

Company officials indicated that holiday sales will contribute heavily to its reaching this year’s planned budget. Gyorgy Baba, General Manager and minority shareholder of Primex told Business Standard that the company is expecting sales to increase by some 40 percent at the end of 2007, compared to regular months, with the holiday period making up 15 percent of total sales.

Teknosa is planning a further 15 units in 2008 in Romania, for which it has allocated some €7 mln, but investment plans of the retailer also include expansion to Bulgaria. By 2010 it wants to have a chain of 50-60 Teknosa stores in Romania, each with an average of 1,000 square meter sales surface.