Douglas Profits Rise 22.1 Percent

Company sales increase 3.2 percent in half.

BERLIN — Douglas Group reported a 22.1 percent rise in net profits for the six months ended March 31 versus the same prior-year period to 91.4 million euros, or $130.9 million.

This story first appeared in the May 12, 2010 issue of WWD.  Subscribe Today.

Dollar figures are converted from euros at average exchange rates for the period.

Sales for the Hagen, Germany-based company, which has perfumery, confectionary, jewelry, apparel and book retail businesses, were 1.83 billion euros, or $2.62 billion, up 3.2 percent.

Douglas’ 1,207 perfumeries posted net sales of 1.03 billion euros, or $1.47 billion, a 1.5 percent gain. On a like-for-like basis, the division’s revenues dipped 0.6 percent.

“Even though rough waters lie ahead in some foreign markets, we remain confident that we will reach the targets set for this fiscal year,” stated Henning Kreke, president and chief executive officer of Douglas Holding AG, Douglas Group’s parent company.

Douglas reconfirmed its forecast for the 2009-10 fiscal year, including sales growth of zero to 2 percent and earnings before taxes of 120 million euros to 130 million euros, or $152.3 million to $165 million at current exchange.

Douglas Holding stock closed down 0.6 percent to 33.05 euros, or $41.99, on the Frankfurt Stock Exchange Tuesday.