Policolor, the dye and varnish manufacturer, last year logged net income worth more than 4 million euros, almost 4 times higher than in 2004, amid a 33% surge in company sales.
This increase in profit was largely due to the sale of a 14-hectare land in South-East of Bucharest, for which the company received roughly 7.5 million euros. The deal was sealed in December, and it pushed Policolor''s fourth quarterly profit to 2.2 million euros, after the company had posted net profit worth 1.8 million euros in the first nine months of the year.
Policolor''s turnover last year stood at 29.8 million euros, which is an increase from 2004 when it was worth 22.3 million euros. Turnover growth was due to the company''s expansion in European Union countries, as well as to the rising demand coming from the construction and industrial sectors.
The company''s representatives were unavailable to comment on the figures.
Policolor is currently one of Romania''s largest dye and varnish producers. Home decor dye, accounting for about 60% of Policolor sales, is the largest source of revenue in the company''s product portfolio. On the decorative product market, Policolor owns the Spor brand, launched in 1999, which is the company''s best-known brand.
In 2005, Policolor launched the Deko Proffesional range to restructure their product line for the construction sector, with sales on this market increasing by about 200% in 2005 year-on-year. andrei.chirileasa@zf.ro
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