Obi sales up

Obi’s parent company Tengelmann has announced record results for its DIY and garden centre subsidiary in fiscal 2005/2006 (ended 30 April 2006). The annual report shows Obi sales of € 5.28 bn, an increase of 6.5 per cent over the previous year. In Germany the DIY store group recorded sales of € 3.50 bn, up 1.4 per cent over the previous year. The number of stores in Germany fell to 337, but the overall number of outlets has risen to 490. Future expansion is to be concentrated on states in Eastern Europe, primarily Russia, Ukraine and Croatia.