eMAG IT Research, the company that manages the software research and development center for eMAG, the largest retailer in Romania, recorded a net profit of EUR 1.78 million last year, up 23.8% year-on-year, reports local Ziarul Financiar.

The company saw a turnover of EUR 11.9 million in 2016, up 79.7% compared to 2015. The number of employees grew by 242 last year, to 451.

eMag IT Research received the approval for a EUR 6.65 million state aid to create 200 new jobs in the software development center. The company will also invest almost EUR 26 million.

eMAG is the largest online retailer on the local market. Last week it took over a stake of 80% in the fast courier company Sameday Courier.

editor@romania-insider.com