Profits up 140% at Vulcabras-Azaléia
Footwear manufacturer Vulcabras-Azaléia has posted strong results for 2008.
It reported a record gross turnover of R$2 billion (US$1 billion) for the year. Footwear and apparel sales totalled R$1.8 billion, accounting for 92% of gross turnover.
Net profit totalled R$173.2 million, up 140% increase compared with 2007 profit.
With its headquarters in the city of Jundiaí, in the state of Sao Paulo, the firm produces and distributes ladies' shoes and sports footwear and apparel through its subsidiaries Vulcabras do Nordeste S/A and Calçados Azaleia S/A. It also produces items under the Azaleia, AZ, Dijean, Funny, Opanka, OLK, Olympikus, Reebok and Botas Vulcabras brands. The business gerates almost 35,000 direct jobs.
“We run the most efficient and productive business in the footwear sector in this continent,” said the company’s president, Milton Cardoso.
