EnglishRomanian retailer Artima reported a turnover of 19 million EUR for the first quarter of 2007, recording a 16% increase from the same period last year, according to company representatives quoted by NewsIn. Artima ended 2006 with a turnover of 275.4 million RON (78 million EUR), up 34% from 2005, while net profit dropped 41%, totalling 4.95 million RON (1.4 million EUR).
Currently, Artima operates 19 supermarkets in 17 cities and towns, among which there are Oradea, Arad, Brasov, Deva, Hunedoara, Resita, Dej, Bistrita, Severin, Caransebes, Lugoj, Ramnicu Valcea, Drobeta Turnu Severin, Sannicolau Mare, Petrosani, Baia Mare. The retailer plans to open ten more stores this year and estimates it will reach 50 outlets in 2009.
Artima Retail Investment Company was set up by businessman Florentin Banu in 2001. In March 2005, Enterprise Investors, which controls Polish European Fund V, bought the Romanian retailer for 17 million EUR.
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