Express courier company Pegasus will invest up to €2 million by the end of the year to develop its package sorting center in the city of Sibiu, Pegasus General Manager, Lucian Aldescu, told Business Standard. The investment is part of an approximately €4 million loan the company plans to obtain from Raiffeisen Bank this September. Aldescu added that investments will be made in "labor force, infrastructure and local sorting centers." The Pegasus manager forecasts that net sales in 2007 will be more than double from last year, up to €8.5 million, given that the company's business increased 70 percent in the first quarter of this year. Net income could reach €1.12 million, 40 percent higher than in 2006, when this amounted to €800,000. "All the money has been reinvested in the labor force, and communication systems to record and track packages," Aldescu said.
The Pegasus manager said the increase in net sales is due to the potential of the delivery market and the presence of multinational companies in Romania. Some 10 percent of net sales were international express courier services and a further 40 percent were deliveries in Bucharest. According to Aldescu, Pegasus is market leader in the capital, with a 65 percent market share, followed by competitors Concord, Fastius and other companies, who share the remaining 35 percent of the market.
