Cocor hopes for EUR 7.3 million turnover this year after opening of Cocor Department Store

Cocor SA, the company which owns Cocor Department Store, doubled its turnover in the fourth quarter of the year compared to the same period of 2009, after the renovation process of the store was finalized. The company posted a EUR 1.95 million turnover in the last quarter of 2010, while its profit was of EUR 651,000. The profit grew from almost EUR 7,000 in the same quarter of 2009. The company plans to achieve a EUR 7.3 million turnover for 2011, while its profit is expected to reach EUR 1.6 million. It plans to lease some of the unoccupied spaces in the shopping center. Cocor Department Store was opened following an investment of EUR 24.5 million and is 85 percent leased. The shopping center brings revenues from rents, from its media facade and from the 200 underground parking places, according to Dan Barbulescu, president of the Cocor SA administration council. The main shareholders in COCOR SA, which is trading on the Bucharest Stock Exchange under the symbol COCR, are Liviu Ursan, with 14.38 percent of the shares, Daniel Stoica, with 14.65 percent, Broadhurst Investments, with 13.32 percent, SIF Transilvania, with 10.24 percent and SIF Muntenia, with 10 percent. editor@romania-insider.com