Double-digit growth expected by 2011
Maesa, which produces made-to-measure beauty care products for major brand distributors, has reported growing demand from the large groups for cosmetics and expects to pass its 2010 sales target of €70m enabling it to improve organic growth and reduce debt. Maesa president, Julien Saada said from 2011 growth was expected to be in double-digits.
The group made several acquisitions in 2009 with the help of credits and expects its current strong growth will accelerate debt reduction, set to fall from €22.4m in mid-2010 to €22.5m at the end of this year, reaching a level below €20m by mid-2011. Full repayment is scheduled for 2015.