Most companies, including those listed on the Bucharest Stock Exchange, are due to announce results in February but Profi, besides being the largest retailer by number of stores, may have posted the highest growth of revenue, as well.
Modern retail in Romania numbers ten international store chains – hypermarkets, supermarkets, discount and cash &carry stores. Six of them – Kaufland, Carrefour, Lidl, Auchan, Mega Image and Profi, are already past the EUR1 billion revenue mark. The latter two overshot the mark last year. Metro could be another member of this billion-euro club, but it did not announce its Romanian results.
“Net revenue stood at more than RON4.7 billion last year and we will continue with a double-digit growth rate in 2018, as well. The year started slow, with a lower growth rate, because there are no more fiscal relaxation steps and salary raises to fuel it,” says Daniel Cirstea, the Romanian chief executive who has been running Profi’s local operations in the past three years.
(English version by Loredana Fratila-Cristescu)