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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