Univers'all supermarket network posted a turnover worth over 23 million euros in the first six months of the year, a 30% increase against last year.

"We have budgeted a turnover worth over 51 million euros by the end of the year. After the first six months, we are on schedule, with a turnover worth over 23 million euros," says Lucian Onaga, financial manager of Univers'all.

Summer months have caused the sales to slow down, as has happened in the last few years, as well, explains Onaga. However, he expects business to pick up this autumn.

"We are expecting to see a net profit of 2% of the turnover at the end of the year, due to the investment programme that is being carried out," says the company's financial manager, specifying that things are "on schedule" in this respect, too.

The Univers'all network of stores currently operates 11 stores, in Bucharest and in other cities, both under the Univers'all brand and under the Uni'all brand (which includes neighbourhood, small-sized stores).

In the next few months, the network will expand by a further three outlets, according to the officials, to towns like Sfantu Gheorghe, Sighisoara and Tarnaveni. "Each store will have a surface area of 600 square metres on the average. Under the circumstances, the total cost of the project for all three stores will stand at approximately two million euros," explained Onaga.

He specified that the space would be rented, and that the funding of the investments would be covered both by means of bank credits and through contributions by the shareholders.

Onaga specified that they would also use a form of equipment leasing in order to provide the store with the necessary equipment, but did not offer further details. The Univers'all network has been developed and run since 2002 by businessman Razvan Petrescu, who controlled the GFS group, operating in t