MAXIMA GRUPĖ, UAB reached a nearly 5 milliard Litas turnover in the first six months of this year
PRESS RELEASE
17 July 2008, Vilnius
The turnover of MAXIMA GRUPĖ, UAB has grown by 31.4% and reached 4.79 milliard Litas inclusive of VAT for the first six months of this year. This result has increased by nearly 1.15 milliard Litas as compared with the result for the same period of the last year.
The Company's income for the first quarter of this year, in comparison with the first quarter of the last year, has grown by 34.6%, for the second quarter – by 28.6%, which is equal to 2.293469 milliard Litas and 2.501 milliard Litas respectively.
According to Mr. Gintaras Marcinkevičius, General Director of MAXIMA GRUPĖ, UAB, the growth of the half-yearly results was influenced by the opening of new shops and by effective marketing and pricing. „The increase in the turnover was determined by consistent and methodical development, furthermore, by the low-price policy, increase of the shopping convenience and careful selection of the product stock. Although our results are good, we have noticed that the consumption growth in Lithuania, Latvia and Estonia is losing momentum", said the Head of MAXIMA GRUPĖ, UAB.
According to Mr. G. Marcinkevičius, it is expected that in the near future the majority of consumers will tend to reason out their demands and to limit consumption.
„Now we are analysing the results of the consumer survey conducted in all Baltic States in order to find out the customer situation. We discuss the worthwhileness of development and, mainly, we consider the plan of measures intended to help the customers best prepare for the economy slowdown period", remarked Mr. Gintaras Marcinkevičius, General Director of MAXIMA GRUPĖ, UAB.
The half-yearly sales of Maxima LT, UAB, a retailing market leader operating in Lithuania, have boomed in the same way as the results of the whole group, i.e. by 31,8% and have amounted to 3.07 milliard Litas, which is more by 741 million Litas as compared with the same period of 2007. The Company's turnover for the first quarter of this year, in comparison with the first six months of the last year, has grown by 35.3%, for the second quarter – by 28.8%, which is equal to 1.469 milliard Litas and 1.604 milliard Litas respectively.
Maxima Latvija Company which is currently in control of 124 shops in Latvia, has received an income of 1.16 milliard Litas, which is more by 24.1% in comparison with the income for the first six months of the last year.
The Estonia-based Maxima Eesti Company controlled by the Group has shown the fastest sale growth rate, i.e. over 50.5% totalling to 454 million Litas. Good results in Estonia were mostly due to the intensive development, whereof one of the most significant moments was the launching of a new format, i.e. opening of the first Maxima XXX shopping centre at Piarnu City.
Maxima Bulgaria Company has shown stable sales and received an income of 103 million Litas, which is more by 33.9% than for the same period in 2007.
MAXIMA GRUPĖ, UAB is in control of the retailing business in the Baltic States and Bulgaria comprising 424 shopping centres Maxima X, Maxima XX, Maxima XXX, T-Market, Ermitažas, i.e. 228 in Lithuania, 124 in Latvia, 49 in Estonia and 22 in Bulgaria. The total number of personnel employed by the above companies is over 25000.
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