Interparfums raises targets

The French fragrance company has posted a strong start to the year

The latest figures from Interparfums indicate a strong start to the year for the French fragrance company, which saw net income for the first half of 2013 climb to €35.3m from €18.9m in the same prior year period. Sales also climbed significantly, reaching €218.5m from last year's €208.9m.

Off the back of strong summer sales and prospects for its new Repetto and Boucheron lines, the company expects to achieve an annual revenue for 2013 of €335m. The company is also looking to raise its targets in response to its solid financial results so far. It now expects operating income to reach €47m-€48m with a high margin of 14%.

Meanwhile, French newspaper Les Echos has reported that L'Oréal has signed a letter of intention to acquire niche men's skin care brand Nickel from Interparfums.

The deal is set to be finalised by the end of the year, although financial details have yet to be disclosed.

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