Romanian IT&C retailer Altex posted last year its highest ever turnover, exceeding the increase it previously forecasted.

House buyers and bar owners preparing for the European football championship fueled the growth as they purchased TVs, according to Profit.ro.

Altex posted a turnover of around EUR 612 million, a year-on-year growth of 40%. Its owner Dan Ostahie had anticipated a growth of 10 to 15%. Its net profit stood at EUR 8.9 million, ten times higher than in 2014, and 2.5 times higher than in the previous year.

Altex had a little over 3,000 employees in 2016. The retailer runs 97 stores, and has debts of some EUR 184 million.

editor@romania-insider.com