Varnish and paint producer Fabryo Corporation, held by OresaVentures investment fund, has revised its forecasts for the 2010turnover from stagnation to a 10% rise, to 165 million RON, aftersales fell "insignificantly" in the first four months of the year.Although the construction sector continued to see a major declinein the first part of the year, Fabryo representatives saypromotional investments were behind the very low salesdecline.
Aliz Kosza, CEO of Fabryo Corporation, says the first quarter wasnot better than last year because there were two months of harshwinter weather, and Easter came earlier, with the first conclusionson the progression of market consumption to be drawn at the end ofJune.
The growth budgeted by Fabryo is based on sales of colour-mix paint(the company has 600 colour mixing machines), of mould-proof Savanacu Teflon, and of Innenweiss paint (the company's cheaper brand),sold as of this year together with dyes.
"We will open another eight showrooms this year, in addition to ourcurrent 23," Kosza says.
The company posted a 150 million-RON turnover last year, down 7%,while its net profit amounted to 5.7%, compared with a 1million-RON loss recorded in 2008.
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