Praktiker revenue climbs over HUF 84 bln in 2021
r.classen / Shutterstock.com
Revenue of Hungarian-owned DIY chain Praktiker rose more than 10% to HUF 84.1 billion last year, the company told MTI on Wednesday.
Praktiker acknowledged the positive impact on the DIY market of overall economic growth, a pickup in the construction industry, greater purchasing power, the launch of state subsidies for home renovation, and a personal income tax refund for families raising children.
Product categories that generated the highest turnover last year included bathroom and gardening products, building materials, and tiling supplies. Sales of flooring and heating systems were boosted by the home renovation subsidies.
Praktiker managing director Zsolt Partos counted supply problems and "hectic" price increases because of the war in Ukraine among the biggest challenges facing the DIY market this year. He said demand was good in the first half, in part because of purchases brought forward, but augured a slowdown in sales growth in the second half.
Praktiker has 20 stores and a headcount of close to 1,600. It also operates a webshop. It controls about one-third of the local DIY market.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 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.