Top Brands Distribution (TBD), the second leading player on the distribution market, registered turnover worth approximately 74m euros (262.7m RON) in the first half of this year, up 20% compared with the similar period of last year.
"The advance compared with the first half of 2005 is due both to the larger volumes sold and to the higher cigarette prices," stated Remus Danaila, chief financial officer of Top Brands Distribution.
In the first six months of this year, cigarette prices surged by 15% on the Romanian market in the wake of the introduction of the vice tax in May, according to the National Statistics Institute data.
TBD will continue to grow until the end of the year, when it expects to reach turnover worth 157m euros, 20% higher from last year's level.
"For the second half, we estimate we will witness this growth rate against 2005, particularly by expanding distribution areas and by increasing volumes sold," Remus Danaila also stated.
The company this year plans to expand the portfolio of distributed products and also to develop the portfolio of logistic services it provides.
"We've received collaboration proposals from companies in various sectors, whose products are completely different from the products we are currently distributing," stated Gilda Ardeleanu, a development officer with Top Brands Distribution.
The company last year began considerable investments in view of development on the logistics segment. Its medium and short-term objectives are getting ready for EU integration and strengthening its position on the domestic market. "Our company's medium-term goal is to become a leader in the logistic and distribution domains at a regional level. This is why some of the most important coordinates of our strategy are the development and diversification of our range of services, permanent investments in the hu
