March 31 (SeeNews) - Romanian agricultural company Agroland Agribusiness [BSE:AAB] said on Friday that it has invested 480,000 euro ($522,570) in the construction of two new stores in the counties of Braila and Arges.
The stores are part of the company's Agroland MEGA franchise and the investments were carried out by franchise partners, the company said in a filing with the Bucharest Stock Exchange.
The store in Braila involved an investment of 400,000 euro, excluding the stocks of goods, and covers an area of about 420 sq m. The company expects that the store will generate annual sales of 800,000 euro and attract an average 200 shoppers daily in 2024.
The store in Campulung, Arges county, required an investment of 80,000 euro and covers an area of about 300 sq m. Next year, the store is expected to generate more than 600,000 euro in sales and service 200 shoppers daily, the company said.
Agroland Agribusiness, founded in 1997, specialises in the marketing of agricultural products.
Its shares last traded 1.01% higher at 1.2020 lei ($0.26/0.24 euro) as of 1641 CET on Thursday, bourse data showed.