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23rd June, 2020

Praktiker reports 18% revenue growth

Praktiker’s revenues expanded by 18% last year, to Ft 67.9 billion from Ft 57.1 billion in 2018, the DIY chain announced on Monday.

Most of the sales were generated on sanitary, garden, building material and tiling products, said CEO Karl-Heinz Keth.

Praktiker is placing greater emphasis on medium and high-end products, as customers are increasingly buying such goods, he added.

In addition, the retailer expanded its product range of indoor and outdoor plants last year.

The coronavirus epidemic made a reset of targets for this year necessary, but also increased the amount of DIY activity, Keth noted.

Praktiker has 20 stores in Hungary with 130,000m2 of retail space and employs almost 1,600 people.

It is the second largest player in Hungary’s Ft 190 billion DIY market, with a 33% share.

Praktiker works with about 340 suppliers, of which more than 80% are Hungarian companies.

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).

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