Politics & Foreign Relations

   Economic News

   Business News

   Other News of Interest

   All stories

18th October, 2017

Penny Market opens logistics centre

Penny Market opened its third Hungarian logistics centre in Veszprém on Tuesday, in addition to the ones in Alsónémedi and Karcag, the discount chain announced.

The new Ft 9 billion facility will supply 59 stores in western Hungary. The 26,500m2 storage area can host 15,000 pallets.

The expansion will create 150 jobs, CEO of the chain Jens-Thilo Kriegeraz said at the opening ceremony.

Penny Market is a member of the German group REWE. It arrived in Hungary in 1996.

Penny Market has 208 stores and employs over 3,000. The chain realised a Ft 488 million after-tax profit in 2016, down from Ft 2 billion a year earlier. Revenues have increased from Ft 178 billion to Ft 190 billion.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

Contact Free Trial Subscription