Iasitex targets a 30% rise in profit in 2009

“In 2008, net sales were some RON 50 million [€13.6 mln], a drop of approximately 40 percent year-on-year,” said the company’s Commercial Manager, Doina Cilibiu.

According to company officials, the producer registered a gross profit worth RON 2.1 mln (€0.57 mln) in 2008, down 15 percent year-on-year.

In order to counter the effects of the crisis, company representatives announced they are considering layoffs, but provided no further details. Moreover, the company will cut sale prices, due to the depreciation of the leu against other currencies, Cilibiu said. She added that about 90 percent of the enterprise’s production is exported.

In 2009, the local textile market is expected to target ecological and inexpensive products. The producer’s competitors include Rosko Textil, Vastex Vaslui, Pasmatex, and Braiconf.