Good for Business, Latvia, Markets and Companies, Retail
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 06:13
Depo DIY retailer raises turnover 7.7% in 2017
At the same time, the turnover of Depo group grew 16% y-o-y to EUR 238.287 mln and its profit was EUR
10.131 mln.
The company’s management said that last year Depo reinforced its leading position in
Latvia’s DIY segment. This was achieved thanks to an effective marketing
strategy, minimization of risks and creation of a client structure that could
ensure the necessary cash flow.
The group’s Lithuanian subsidiary Depo DIY LT opened its second Depo
store in Panevezys in 2017, and another store opened in Vilnius in April 2018.
The Lithuanian subsidiary continues work on developing new stores.
The Depo management described the company’s finances as
stable.
In 2016, Depo posted EUR 203.417 mln in turnover and a profit
of EUR 12.218 mln.
Founded in 2004, Depo
is fully owned by DMT Pluss company.