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Presentation of Tengelmann's annual report; international share to increase to 50 per cent
Karl-Erivan W. Haub, managing partner of the Tengelmann group of companies, took positive stock of his group's situation on the occasion of yesterday's press conference. He revealed that all the European group's operating areas had completed the recent financial year (1 May 2004 to 30 April 2005) in the black.
The Obi DIY and building stores with their 38 553-strong workforce generated a sales increase of 1.9 per cent (currency-adjusted) to approx. € 5.1 bn. Represented in ten countries, one in four of the current total of 497 Obi branches is located abroad. And this, according to Haub, is why the group's medium-term goal is to increase the international share of corporate sales from the current level of 30 per cent to 50 per cent. The company is planning to open ten new DIY stores in Russia during the next financial year alone.
The Obi DIY and building stores with their 38 553-strong workforce generated a sales increase of 1.9 per cent (currency-adjusted) to approx. € 5.1 bn. Represented in ten countries, one in four of the current total of 497 Obi branches is located abroad. And this, according to Haub, is why the group's medium-term goal is to increase the international share of corporate sales from the current level of 30 per cent to 50 per cent. The company is planning to open ten new DIY stores in Russia during the next financial year alone.
