Humanitas posts 30% lower turnover, to 7m euros

The Humanitas group, which includes the Humanitas Publishing House, Humanitas Fiction, distribution company Librariile Humanitas and Humanitas Multimedia, ended last year with a 7 million-euro turnover, compared with almost 10 million euros in the previous year, according to company officials.

"Last year was an extremely complicated year. We took group-wide restructuring steps in order to adjust to market terms and to make our operations more efficient," said Nicolae Ciurea, chairman of the board of directors of Librariile Humanitas company. Almost half the revenues recorded by the group controlled by writer Gabriel Liiceanu are generated by the Humanitas publishing house. Liiceanu holds 88% of the group, with the other shareholders including Mihaela Maria Korne (with 3%), Librariile Humanitas company, and other individual shareholders.

The Official Gazette of March 8th featured the information according to which seven bookstores of Librariile Humanitas (Humanitas Bookstores) ceased operations and were removed from the Trade Registry records. Company officials explained that only one bookstore had been closed, i.e. the one in Pitesti.