The electrical and electronic devices chain ended the 2022-2023 financial year with a 12% increase in turnover in a comparable number of stores. “Pisser”, having achieved another year of the best results in the Currys (formerly Dixons) group, which owns the Greek company. In fact, a related statement released yesterday morning by the British group mentions “another year of good results for our flagship company in Greece”.

It is specified that the full financial results of the Currys group and, consequently, the Kotsovolos chain will be announced on July 6. It is certain that with the above figures, it is expected that the turnover of Kotsovolos will far exceed 700 million euros for the financial year from 1 May 2022 to 29 April 2023, given that in the previous financial year 2021-2022 it registered a turnover, including activities in Cyprus in the amount of 664.42 million euros.

According to what Currys announced, the largest percentage increase in sales, 28%, at Kotsovolos was recorded in the first quarter of 2023 compared to the corresponding period in 2022, which is largely due to the fact that now the price of increase on products that last year had not yet switched to all retail prices, but with the fact that consumers made larger purchases this year, having overcome the initial shock from war in Ukraine and the economic impact it had. A third factor behind the 28 percent increase in sales over the period under review is that last year many suspended purchases of air conditioners and refrigeration appliances, pending the start of a related subsidy program for these appliances, which finally began in August 2022. .

It is no coincidence that in the first half of the 2022-2023 financial year, which is essentially six months from May 1, 2022 to October 30, 2022, Kotsovolos recorded sales growth in a comparable number of stores by only 4%. Between November 1, 2022 and January 7, 2023, which is considered the peak period for the industry, its sales increased by 12%, and in general for the second half of the financial year, i.e. the period from November 1, 2022 to April 29, 2023, sales growth of Kotsovolos amounted to about 20%.

Kotsovolos currently has 93 stores in Greece and three in Cyprus (Nicosia, Limassol and Paphos), with the Paphos store being the last to open about a month ago. It is noted that in November 2022, the company entered into a bond loan with Alpha Bank in the amount of 12.2 million euros to finance an automation project in a new logistics center that it is planning at the Triasio field with an area of ​​56,000 square meters. .m This project has been added to Recovery Fund.