Romanian Fan Courier records sales increase of 59pct in Q1 2008
Fan Courier recorded a turnover of EUR 9.87 million in the first quarter of 2008, up by 59pct from the same period last year. The fast growing courier service targets a 30-35pct increase in turnover to EUR 45 million and plans investments of EUR 9 million in 2008. The amount of EUR 5 million will be invested in the launch of new headquarters while some investment is planned for staff training and IT.
The main problems Fan Courier is facing on the market are the poor infrastructure and the lack of staff training, the company’s representatives said. In 2007, Fan Courier posted a turnover of EUR 33.2 million. The company’s main competitor on the Romanian courier market is Cargus, a company recently bought by DHL.
The Romanian express and parcels market boomed last year and it has seen several acquisitions in the first half of 2008. Next to the takeover of Cargus by DHL, UPS has also entered the market by acquiring Trans Courier Service. Acquisitions are expected to continue as domestic firms aim at attracting strategic investors. Smaller companies such as Sprint Courier, Concorde Courier, Alo Courier, Nemo Expres and Roexpres are likely to be next takeover targets for foreign companies such as Austrian Post which is reported to be interested in entering the market.
Fan Courier recorded a turnover of EUR 9.87 million in the first quarter of 2008, up by 59pct from the same period last year. The fast growing courier service targets a 30-35pct increase in turnover to EUR 45 million and plans investments of EUR 9 million in 2008. The amount of EUR 5 million will be invested in the launch of new headquarters while some investment is planned for staff training and IT.
The main problems Fan Courier is facing on the market are the poor infrastructure and the lack of staff training, the company’s representatives said. In 2007, Fan Courier posted a turnover of EUR 33.2 million. The company’s main competitor on the Romanian courier market is Cargus, a company recently bought by DHL.
The Romanian express and parcels market boomed last year and it has seen several acquisitions in the first half of 2008. Next to the takeover of Cargus by DHL, UPS has also entered the market by acquiring Trans Courier Service. Acquisitions are expected to continue as domestic firms aim at attracting strategic investors. Smaller companies such as Sprint Courier, Concorde Courier, Alo Courier, Nemo Expres and Roexpres are likely to be next takeover targets for foreign companies such as Austrian Post which is reported to be interested in entering the market.
