Obi in the black

The German market leader in DIY increased its turnover by 6.5% in the financial year 2005/2006. The mother company Tengelmann says Obi achieved a record performance in economic terms in the financial year 2005/2006. (to 30th April 2006). In the annual report, the Obi turnover is stated as 5.28 bn Euro, an increase of 6.5%. The German DIY market leader achieved a turnover of 3.50 bn Euro in its home market, 1.4% more than in the previous financial year. The number of outlets in Germany itself has fallen to 337 according to reports, but risen to 490 in total.  The focus for future expansion is on the Eastern European states, especially on Russia, the Ukraine and Croatia.