Praktiker Net Profit Falls 73%

Germany's second- biggest home-improvement retailer, said profit declined after a slowing economy caused domestic sales to retreat and the company's tax bill climbed.

 Total sales gained 25 percent to 3.95
billion euros after the Max Bahr takeover and rose 11 percent outside
Germany in same-store terms. The retailer forecast a “mid
single-digit'' percentage gain this year in overall revenue.
Praktiker paid 40 million euros in extraordinary taxes in 2007 after
a national corporate-tax reform. The retailer maintained its annual
dividend at 45 cents a share.

Operating profit will climb to between
135 million and 140 million euros this year, according to Praktiker.
The company earned 125.8 million euros before interest, taxes and
amortization in 2007, beating managers' 125 million-euro forecast and
exceeding the prior year's 111.1 million euros.

Praktiker opened 15 eastern European
stores last year, mainly in Romania and Bulgaria, and will add as
many as 20 this year to cut its reliance on Germany. More than half
of operating profit now comes from foreign outlets. Praktiker said
today it will open its first Albanian store this year.