The integration of fellow contract manufacturer Latitudes into the business provided a significant boost to US sales but the loss of a Chinese client put a drag on European figures. The overall figures were therefore slightly lower than those predicted in July.
Maesa said business was down in Europe but that the order book for 2008/2009 for all European subsidiaries was already higher than the revenues generated this past year.
Well placed to achieve turnover target
The French company said it is still well equipped to achieve its target of an annual turnover figure of €100m in 2010 in spite of the weakening economic climate.
Maesa CEO Gregory Mager said: “Today, Maesa is sufficiently diversified, through its commercial positions either side of the Atlantic and through the depth of its product range, to continue growing on markets that remain buoyant.
“More specifically, private label products are expected to develop strongly over the coming months, meeting the current concerns of retailers looking to offer their customers original and quality products at a lower cost.
“The outsourcing offered by our group for developing finished products also corresponds to a major trend for the industry, aimed at optimizing fixed costs.”
Creation of four divisions
Maesa recently divided its business into four divisions each covering different segments of the cosmetics and fragrance industries including packaging, promotions, home and beauty.
In October, Maesa launched its packaging division at the Luxe Pack show in Monaco.
The division targets luxury and retail brands and offers a range of design and production services from moulding to secondary packaging.