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Thursday, 25.04.2024, 05:31
Madara Cosmetics expects to get EUR 500,000 in revenue from its new sunscreen products
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The company’s representatives said that after almost five years of research, Madara Cosmetics has created and launched four unique Cosmos/Ecocert certified natural sun-protection products for face and body. These products represent a new category for Madara brand, which is widely sought after in the market for skin care products, but from the development point of view, is one of the most complex in the natural segment.
The total turnover of all four products in 2018 is planned to be around EUR 500,000.
As reported, Madara Cosmetics, according to preliminary data, last year generated EUR 7.402 million in sales, up 26.4 percent from 2016, while the company’s profit rose by more than half to EUR 1.238 million, according to the company’s unaudited financial report submitted to the Nasdaq Riga stock exchange.
Founded in 2006, Madara Cosmetics has several shareholders, mostly Latvian individuals. Since November 10, 2017, the company’s shares are listed on Nasdaq Riga alternative market First North.
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