Mega Image posted RON2.75 billion sales in the first half, almost 20% higher than the year-ago period.
Mega Image officials did not return ZF’s request for comment on the results and estimates for the entire 2018.
The growth comes at a time of continued rise in consumer spending (7.5% in the first seven months of 2018), although slower than in the previous years. The company continued to expand and even entered new markets such as Timisoara in the summer of 2018. In July 1, 2017 – June 30, 2018, Mega Image opened 50 to 60 new stores in all, ZF has found, either supermarkets by the same name or Shop & Go convenience stores.
The company had previously announced it would keep the same growth rate but unlike other years it would enter new markets. It is only in the last few years that it expanded beyond Bucharest and Ilfov County to Cluj-Napoca and Timisoara. It is also in talks to buy Zanfir retail chain operating in Vrancea County and the surrounding areas, ZF has recently reported.(EUR1=RON4.6584)
(English version by Loredana Fratila-Cristescu)