CIMEX Reaped $1 Billion Worth of Revenues in 2003

Cuba’s company CIMEX –made up of more than 80 enterprises providing services to the travel industry, a free trade zone and a real estate firm- churned out little more that $1 billion in 2003 for a good 6.8 percent growth over previous estimates.

CIMEX Vice President Enrique Sentmanat said the Cuban corporation scored a 15.7 percent increase in public sales, double-digits spikes in exports and an 11.9 percent upsurge in tourist services.

These numbers gave 20-year-old CIMEX the necessary edge to average an overall 6.8 percent annual growth rate.

However, customer satisfaction didn’t fare that well and even a certain level of decline popped up from 2002, especially in quality service and prices.

CIMEX President Eduardo Bencomo remembered that his company was founded back in 1984 with a view “to capture hard-currency money all across the island nation through a network of specialized divisions that reach out to every sector of the Cuban economy and even counts on a mesh of retailer outlets and stores.”

CIMEX also controls a free trade zone, a real estate firm, a label company, car rentals and Havanatur, the country’s biggest company in terms of receptive tourism and traveler dispatches to Cuba and from the island to other Caribbean destinations.