M.J. Maillis targets 10m euro sales

Packaging and packing equipment maker M.J. Maillis Romania estimates 9.75 million euro turnover this year, up 25% from the 7.8 million euros posted in 2002, while net profit should amount to 800,000 euros, Michalis Trakadas, M.J. Maillis Romania general manager told Ziarul Financiar. Net profit amounted to 608,000 euros last year. The company, which is part of the Greek group M.J. Maillis, is the first and only foreign company listed on the Bucharest Stock Exchange. The floatation was done two years ago when shares were sold to the public and accounted for a 20% capital increase. The successful offer helped the company raise 1.6 million euros from the market, which it used to expand its packing equipment productive capacity. Packing equipment will also be the drive behind the increase in M.J. Maillis Romania’s sales. ZFx