Praktiker Sales Climb 13% in 2022

Retail

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Sales revenue of Praktiker rose 13% to HUF 95.5 billion last year, the DIY chain said on Thursday, according to a report by state news wire MTI.

Turnover was boosted by an increase in online sales, support for home renovation, a personal income tax refund, and a pickup in the construction industry, Praktiker said. Sales of bathroom fixtures, gardening supplies, tile, building materials, and lighting fixtures contributed the most to the higher sales, it added.

Managing director Zsolt Partos said Praktiker was exercising caution in setting its 2023 business targets as consumer spending could fall, temporarily, as real incomes dropped.

Hungarian companies account for 85% of Praktiker's suppliers, he added.

Praktiker has 20 stores and employs around 1,450 people.

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