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Farmec sees profit up 35%

The reduction of expenses and the decrease in profit tax generated a nine-month growth of 18% in turnover for Cluj-based cosmetics producer Farmec, bringing it to a total of 12.5 million euros. Profits also increased by 35% from the same period in 2004

Ziarul Financiar · 17 noiembrie 2005 · 1 min de citit

The reduction of expenses and the decrease in profit tax generated a nine-month growth of 18% in turnover for Cluj-based cosmetics producer Farmec, bringing it to a total of 12.5 million euros. Profits also increased by 35% from the same period in 2004. Farmec”s management expects full-year turnover to reach 16.9 milion euros and the net profit to stand at some 1.8 million euros. By the end of September, the company had made 4.6 million face creams, emulsions and lotions, posting 5.5 million euros in sales on this segment alone. This year it began an investment programme that will exceed 20 million euros upon completion. ZF

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