Farmec 1Q Revenue Up 15.6% To RON24.4M

05.16.2011 By Andrei Circhelan

Romanian cosmetics maker Farmec Cluj-Napoca on Monday reported revenue of 24.4 million lei (EUR5.9 million) in the first quarter, up 15.6% on the year, on increased sales of Gerovital products.

"The second quarter of this year started well, and we expect summer-specific products to drive Farmec sales even further," said company general manager Mircea Turdean.

For this year, the company expects sales to rise 7.6% to RON103.2 million, while net profit is seen up 31% to RON6.78 million.

In 2010, Farmec posted sales of RON95.9 million, up 10% on the year.

Last year, the company expanded its presence in Hungary, through the stores Drogerie Markt and Auchan. Future plans target retail entry in Poland, Ukraine and Moldova.

The company currently exports to 30 countries.

Farmec Cluj-Napoca was privatized in 1995 and it is entirely owned by Romanian PAS Farmec.(EUR1=RON4.1054)