Farmec Cluj-Napoca hopes for 5 percent sales increase this year after 15 percent hike in 2011

Romanian cosmetics manufacturer Farmec Cluj-Napoca reported sales worth RON 110.9 million (EUR 26.2 million) for 2011, up 15.6 percent y-o-y. The company has announced that it has lower expectations for this year, hoping for a turnover increase of 5 percent.

“Even though in the past couple o years Farmec’s turnover grew by more than 10 percent annually, this year we are more cautious in our estimations and we have budgeted an increase of only 5 percent. We believe that 2012 will be a difficult year for the entire Romanian economy, regardless of our market. We will continue our strategy to launch new products and we have a well thought investment plan but we remain cautious,” said Mircea Turdean, the company’s general director.

Last year the company focused on launching new products under the Gerovital brand and investing in making the production process more efficient.

This year the company plans to invest EUR 600,000 which will be mainly directed towards buying new equipment, modernizing the production lines and the offices.

In addition to increasing its turnover by 5 percent this year, Farmec plans to consolidate its position as market leader for face-care and hair-care products and invest in the house cleaning products segment.

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Simona Bazavan