Romanian clothing manufacturer Braiconf Braila saw turnover up 31% last year in nominal terms, with net profit logging a 23% boost, whereas annual inflation was 14.1%.
The company's sales totaled 480 billion ROL (12.8 million euros) last year, while profit amounted to 65.5 billion ROL (1.7 million euros), according to the preliminary financial data.
Company officials say the sales boom is likely to maintain this year, although the international clothing market is in recession. "The clothing industry crisis is still raging on the international markets. The income growth was outpaced by the price of utilities in Romania. Moreover, new expenses emerged, such as computers and telecommunications, joined by a new appetite for travels. All these factors led to lower demand for clothing," Braiconf general manager Anica Nisioi told Ziarul Financiar.
Among the clients of the Braila-based shirt maker are significant brands in the European fashion industry, such as Kenzo, Givenchy, Rocha, Scerer, Versace Sport, Marella, Sisley, Cerutti, Gianfranco Ferre, Valentino, Benetton and Stefanel. The company lost the FILA Sport Spa account last year, after the Italian company changed the shareholding structure.
"We intend to keep growing and we hope to post at least 20% higher sales this year compared to 2003," Nisioi added.
The bulk of the company's output (70% of turnover) comes from shirts, with womenswear accounting for the rest. Only 10% of the company's output is aimed at the domestic market. Braiconf is listed on the Rasdaq market and the stock price almost tripled last year. Braiconf shares were traded on Friday at 42,500 ROL, which puts the company's market capitalisation at $10 million. vlad.nicolaescu@zf.ro
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