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Praktiker revenue climbs more than one-quarter

Retail

Do-it-yourself chain Praktiker had revenue of HUF 32.5 billion last year, up more than HUF 7 bln from 2014, the firm announced at a press conference today, Hungarian news agency MTI reported. The company is looking to open more stores in the country.

Praktiker closed the year with HUF 916 million in operating profit after reporting a loss of more than HUF 1.2 bln in the previous year, managing director Karl-Heinz Keth said.

Hungarian holding company Wallis recently acquired a 75% stake in Praktiker in Hungary, including the retail business, properties and the brand. Keth took a 25% stake.

Praktiker plans to add another 3-4 stores to its network in 2-3 years, said Wallis CEO Zsolt Mullner.

There are 19 Praktiker stores in Hungary at present and these stores employ 1,200 people.

About two-thirds of Praktikerʼs more than 300 suppliers are local.

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