Praktiker Romania returns to profit after takeover

Do-it-yourself retailer Praktiker Romania ended the first half of this year with an operational profit of EUR 2.7 million, the company has announced. Praktiker also managed to increase sales by about 10% compared to the same period last year. The company plans to expand its network from 27 stores to 45 stores in the next two years. The company’s results improved significantly in the second quarter of this year, after the start of a restructuring plan conducted by its new owner, Turkish businessman Omer Susli. Susli took over Praktiker in February this year. He first started working on optimizing costs by renegotiating contracts for services and utilities, including store rents. According to Susli, Praktiker paid EUR 24 million each year just for the rents of the 24 stores. editor@romania-insider.com