In January-April, Flanco had reported sales of RON235 million. The retailer said its sales climbed at the same rate in the first and second quarters and estimates the market grew by around 9%.
“We managed to maintain a growth rate of 20% in the first six months, as the overall market grew 11% in the first quarter, but slowed to 5-6% in the second quarter,” said Flanco Retail CEO Dragos Sirbu.
Flanco’s best selling products in the first half of the year were large and small appliances, products on the telecom, television sets and notebooks, while tablets and cameras had the lowest sales.
The retailer’s sales were also boosted by consumer loans offered by Flanco’s financial partners, which bring in 25% of the retailer’s revenue.
Flanco plans to invest around RON10 million this year, 25% higher than last year.
The retailer reached a network of 90 stores, with the opening of two new units in Brasov and Bucharest.
Flanco had a turnover of over EUR150 million last year and its net profit grew 61% compared to 2013.
The company is fully owned by businessman Iulian Stanciu, who also owns a 25% stake in Dante International, which owns eMAG.ro.