Cocor shopping center in Bucharest triples profit in first quarter

Cocor SA, which runs the Cocor shopping center in Bucharest recorded total revenues of around EUR 2.2 million and a net profit of EUR 355.000, in the first quarter of 2011, an increase from the EUR 950.000 in revenues registered in the first quarter of 2010, according to the company. The profit was three times higher than in the first quarter of 2010. “This result is due to opening Cocor store and to Cocor Mediachannel’s sales growth”, said Dan Barbulescu, president of Cocor's management company Staar Rating SRL. Located in the historical center of Bucharest, Cocor reopened to the public in October 2010, after some upgrading works with costs of EUR 24.5 million. Currently Cocor has 10,000 sqm of rentable areas and 200 parking places. Cocor Mediachannel has an area of ​​3,300 square meters of LED screens and lights, and posted 30 percent higher revenues in 2010. Irina Popescu, irina.popescu@romania-insider.com