Jimmy Choo and Montblanc boost Interparfums' first half
Reinforced budgets for Burberry Body means revised 2011 sales forecast
French perfumes group Interparfums has confirmed the 8.2% rise in group sales for the first half 2011 at €163m with gross margin of 14%. Operating earnings increased by 21% to €26m while net group profits went up 33% to €17.1m.
Philippe Benacin, Inter president, said the success of the Jimmy Choo and Montblanc perfumes confirmed the strong potential of these brands. He added that the current level of orders for the Burberry Body range of products had led to a reinforcing of promotional budgets and to revise the total annual sales forecast for 2011 as a whole.
Inter's financial position is reportedly healthy with own capital of over €200m and a low level of debt. However, the strong rise in marketing and promotional spending scheduled for the current second half is expected to limit overall profitability for 2011 while assisting business growth in the medium-term.