Weston eyes Rs 700 crore turnover

New Delhi, Aug 2: Buoyed by current fiscals quarterly sales figures, the consumer electronics company Weston today said it has set a target of Rs 700 crore turnover for the current financial year 2007-08.

''With increase of 27 per cent in sales during the first three months as compared to sales in the same corresponding period last year, the company plans to increase its sales turnover to 35 per cent in the oncoming festival season,'' company's Vice President (Marketing), Sunil Sethi said in a statement.

Mr Sethi added that during the first quarter of FY07-08, the company has seen 23 per cent increase in colour televisions sales and 50 per cent growth in DVD players, as compared to same period in the previous year.

''With the company adding new range of products including microwave ovens and tapping of new markets in Southern and Eastern Part of India, the company is all set to increase its business,'' he added.

The company had a turnover of Rs 400 crore for the previous fiscal crore and is now targeting a Rs 700-crore turnover for 2007-08.

It has also introduced DVDs under its Weston brand in A&B category towns and on the pipeline is expansion of product range, which, according to Mr Sethi, would give it the fillip required in the fast-growing consumer durables segment.

Weston has two major expansion plans - to expand its product portfolio by introducing DVD recorder, set top boxes, LCDDVD recorder and plasma TVs.

Its parent company Dixon is also setting up a facility near Chennai (the company's first South venture) to supply 2.5 million CTVs under the Tamil Nadu government's free CTV schemes.

Weston has seven facilities located in Noida, Jammu, Mohali, Dehradun . The company is in the process of leveraging its brand by expanding its distribution network across the country, said Mr Sethi in the statement.

UNI