Inter raises full year forecast on 16.5% Q3 sales boost
Resilient markets and organic growth contribute to high growth
Perfume group Inter Parfums has posted record third quarter 2010 sales of nearly €85m, a rise of 16.5% at current exchange rates. Sales were driven by new fragrance line launches, the launch of the Burberry make-up line, the integration of Montblanc fragrances and resilient market conditions in Europe and North America.
The company has also cited sustained organic growth in the main perfume lines as contributing to the high growth.
The quarterly boost pushed sales for the first nine months of this year up 21.4% to €235.5m. Burberry perfumes expanded by 18% and Lanvin by 31% but both were outpaced by sales of Van Cleef and Arpels fragrances which increased by 33%. Total nine-month sales for Burberry and Van Cleef and Arpels were over €30m and almost €20m respectively.
Inter has said that it is raising its sales forecast for 2010 to between €290m and €295m on growth of 12%-14% in the light of recent trends and the general strength of the fragrance and cosmetics market.
