ROMANIA: Record growth of almost 50% for Profi in H1 | Progresiv

Profi Romania reported strong financial results in the first half of 2016, marking an increase of 48% in turnover, 357.7 million euros from 242.3 million euros it reported for the first six months of last year. The retailer thus exceeding its record growth rate from 2015 when the company's sales progressed by 38%, to 573.8 million euros.

"This data confirms that the Profi stores are popular with customers, we understand well the market in which we operate and that our growth strategy and long-term cooperation with manufacturers around the country are bearing fruit", said Daniel Cirstea, general manager Profi Rom Food. "This is the direction we will keep in the coming years as well", he added.

Company representatives emphasized that the 48% growth was sustained by the positive development of the company in comparable terms (LFL) and the number of stores opened in the first half of 2016, a period in which 42 units were opened, Profi being the retailer with the highest percentage of openings in the market.

Profi ended 2015 with a total of 367 stores nationwide, of which 93 were opened in 2015. The target for 2016 is to reach a total of 500 stores. Currently, the Profi chain includes 443 units, of which 307 operate in standard format, 86 in City format and 50 Loco units. Present in 216 localities in all counties and Bucharest, Profi is the retail chain with the larget geographical coverage in Romania.