OBI revenue set to climb over HUF 38bn in 2011

Retail

German-owned do-it-yourself chain OBI expects revenue of its Hungarian unit this year to climb over last year's HUF 38bn, based on turnover in Q1-Q3, OBI Hungary Retail managing director Christoph Wackerbauer told MTI on Thursday.

Hungary's DIY market has contracted by a quarter since 2008, but OBI's turnover has not dropped as much, Wackerbauer said.

OBI has six stores in Budapest and 19 in other cities around the country. The stores had 16m visitors last year. About half of them made purchases.

OBI will soon open a new store in the KOKI transport terminal in Budapest. It will open a new store in Győr next year.

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