EnglishCosmetics manufacturer Farmec Cluj estimates a turnover of 23 million EUR for the current fiscal year, up 15% from 2006, according to a company press release quoted by NewsIn. Last year, the company posted a turnover of 20 million EUR and a net profit of 2 million EUR, recording a 50% increase from the previous year.
The positive results followed the company"s recent investments in the modernization of its production facilities. Farmec has inaugurated a new production line worth 3 million EUR.
In November last year, Farmec relaunched its Gerovital H3 brand with an advertising campaign worth over 350,000 EUR, which lead to a 60% increase in sales.
Exports accounted for 20% of the company"s profit. Currently, Farmec Cluj exports its products to more than 60 countries. The company plans to open three stores in Europe by the end of 2008.
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