Fan Courier, a major player on the Romanian courier servicesmarket, ended the first four months of this year with turnoverworth 60.4m RON (14.5m euros), up 16% in euros from a year ago. "Wesucceed in generating profit at the end of each day because we'restaying close to our business day by day. We can manage ourcompany's cash flow very well," says Felix Patrascanu, one of thecompany's owners. Net 2009 income reached 8.3m euros, amid 40m-euroturnover, according to the company's representatives. The companyhas 2,500 employees. Fan Courier is owned by three Romanianentrepreneurs, Felix Patrascanu, Adrian Mihai and Neculai Mihai,who set up the company in 1998. The company, with a market shareput at 20%, is one of the few Romanian-held firms that have notchanged their shareholder structure, despite bids from investmentfunds. "Economic conditions do not allow us to reach the 30-40%increases of several years ago (...). This year, we've budgeted 10%growth, to 184m euros (almost 44m euros," said Fan Courier'srepresentatives. At present, the firm operates with a 1,500-carfleet and provides courier services to 14,000 clients. "We're in asituation where even large corporate clients ask for their paymentdeadlines to be extended by 60 days," Adrian Mihai specified.
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