Romania's Cosmetic Plant raises 2016 turnover forecast

Romanian company Cosmetic Plant said on Monday it expects its 2016 turnover to increase by at least 20% to some 11 million lei ($2.65 million/ 2.44 million euro), driven by expansion of its distribution network, higher exports and new products, seenews.com reports.

In February, Cosmetic Plant said it expected turnover to rise by 10% in 2016.

The cosmetics producer's turnover rose 20% on the year in the first nine months of 2016 to some 8.5 million lei ($2.4 million), it said in a press release.

The volumes of products delivered in the period January-September increased by 14% compared to the same period of 2015, reaching approximately 960,000 units.

The expansion of the distribution network, the launch of deliveries to Carrefour, the expansion of the product range and the introduction of new products had a positive effect on turnover, the company's general manager, Suzana Laszlo, said.

For 2017, the company is working on two new product ranges and on the facelift of an existing one.

Cosmetic Plant is a family business established in 1991 in city of Cluj-Napoca where it operates a 1,700 sq m facility with production capacity of 2 million items per year.

The company exports its products to Moldova, Hungary, Jordan, Lebanon, Greece, Portugal, Spain, France and Cyprus.

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