The group had pre-tax profit of Ft 2.7 billion in 2005 and spent Ft 3 billion on investments, deputy CEO László Murányi said. In 2006, Co-op targets revenue of Ft 400 billion, Murányi added.
Co-op controls 11% of Hungary’s FMCG market, according to figures compiled by research company Gfk Hungária.
In 2005, sales of Co-op’s house brands accounted for 25.8% of total turnover, and were up 2.8% from a year earlier, rising more than the sale of other products. The company has 650 house brands and plans to introduce 50 more by the end of 2006.
Co-op stores employ 32,000 people.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
