Praktiker: Over 1 bln lei sales in 2008. Slowdown in sight

Praktiker Romania, the local unit of Germany's second-biggest DIY retailer Praktiker, reported sales of 1.077 billion lei last year, up 28 percent over the previous, following expansion and despite the economic turmoil, NewsIn informs.

It cut ribbon for five units in 2008. The retailer recorded sales of 839 million lei in 2007.

The company's representatives estimate a slower growth rate this year when the development strategy will be adopted according to the current situation on the market, prompted by the global economic downturn.

Praktiker booked an operating profit of 129.1 million euros worldwide, exceeding the profit before interests and taxes recorded in the previous year, of 116 million euros.

The company's invested capital amounted to 117.6 million euros last year, below the 167.9 million euros in the previous. Some 69.7 million euros were used to expand the store network outside Germany.

The German group was set up in 1978. It currently counts 427 stores in nine countries and more than 23,000 employees, out of which 10,000 outside Germany.

Its main competitors are bauMax, Bricostore, Hornbach and Mr. Bricolage, but also the local networks Dedeman, Arabesque and Ambient.

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