Sarantis sees higher sales in Romania, profit declines

Greek consumer goods producer Sarantis posted a 7 percent increase in sales in Romania, to EUR 17.6 million. The operational profit (EBIT) of the Romanian subsidiary however declined by 24 percent, to EUR 520,000. Romania is the third largest market for Sarantis in terms of sales, after Greece and Poland. Sarantis moved the production of cosmetics under the Romanian brand Elmiplant from Bucharest to Greece, in the first quarter of this year, but will keep a research and development facility in Romania. Sarantis also distributes cosmetics under the Bioten brand, its own brands of perfumes and deodorants as well as mass market and luxury brands of other companies. Full financial results for Sarantis are here. Sarantis results shows growth in Romania and other foreign markets Greek Sarantis moves Elmiplant cosmetics production from Romania to Greece to support home country’s economy editor@romania-insider.com