Fourlis preparing for slump

Fourlis Group is bracing for possible problems in consumption rates expected during the first quarter of next year. It recently restructured its debts in order to maintain its financial health and is now focusing on attaining its business plan objectives, particularly as far as the Romanian market is concerned. The electrical goods sector shows a slowdown year-on-year, while subsidiary House Market, which operates Ikea in Greece, is still performing well. House Market’s business plan is advancing, with Larissa being the next step, although in the nine-month figures the impact of strike action at the country’s major ports should become apparent as it has weighed heavily on profits. The Intersport retail chain, another subsidiary, will open one more outlet in Greece by the end of the year, along with two more in Romania. It currently operates 28 in Greece and nine abroad. Group turnover is likely to approach the 2008 target of 815 million euros; after-tax profits were forecast at 64 million euros.