Romanian Retailer Altex Sees 2009 Sales Almost Halved, Expects Market Recovery in 2012

"The nine-month turnover of Altex confirms the realistic goal set for the current year: to achieve sales of more than 180 million euro and to consolidate our leading position on the market," Altex president Dan Ostahie said in a statement.

The retailer reported sales of 124 million euro in the first nine months of the year, after sales of 83 million euro in the first half. Comparative figures were unavailable.

“As for next year, our forecast remains a reserved one. The market growth will be moderate compared to 2009 and we will be away from recovering. Unfortunately, the annual picture will depend on the seasonal sales, a feature which will repeat in the next two-three years,” Ostahie added.

The company expect the domestic household appliances market to switch back to normal in 2012.

($ = 0.6697 euro)