Furniture producer Lemet forecasts 30% turnover increase

Furniture producer Lemet in Campina, one of the leading players in its field, has budgeted turnover worth over 100 million-RON (around 30 million-euro) this year, up 30% against last year. In 2007, the company’s business was estimated at 77 million euros (22.6 million euros), with profit standing at 15 million RON (4.4 million euros). “Our objectives for 2008 include maintaining the turnover growth we have registered over the last few years, i.e. around 30%. We hope for a hefty profit, as well,” said Alexandru Rizea, general manager of Lemet, who also holds a 95% stake in the company, according to Trade Registry information. The almost 20% profit margin is one of the highest in the industry, given that the share of sales exports has maintained at a low 3.76%. In 2008, exports are expected to reach 5% of the turnover. “Increasing our exports has not been a priority for us. Stores that sell our products have extended their coverage, and continue to do so, expanding outside the Romanian borders, and, naturally, tapping into Bulgaria, with 14 stores and into the Republic of Moldova,” added Rizea. Lemet’s local network consists of 97 stores grouped under the Lem’s brand, with one owned by the company and the rest operated under a franchise.