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Inter Parfums Inc. had a banner year, with 2011 net profits rising 21 percent, and sales up 34 percent.
Inter Parfums, which has a portfolio of fragrance brands that includes Burberry and Jimmy Choo, reported that net income attributable to the company for the year ended Dec. 31 was $32.3 million, or $1.05 a diluted share, compared with $26.6 million, or 87 cents a share, in the prior year.
As previously reported, sales for the year rose 34 percent to a record $615.2 million, from $460.4 million. At constant exchange, revenues gained 28 percent.
Jean Madar, the firm’s chairman and chief executive officer, called 2011 “the best year in our history,” with record sales and profits.
He stated, “Burberry sales rose 20 percent for the year in local currency due to the launch of Burberry Body and the staying power of the brand’s historic lines. With the debut of Montblanc Legend, sales were more than three times greater than in 2010, when legacy brand sales were limited to the second half only. In 2011, we recorded first-time sales for the Jimmy Choo signature fragrance, which far exceeded expectations, and in the latter part of the year, sales of Boucheron products began.”
Meanwhile, 2011 net profits for the company’s Parisian subsidiary, Inter Parfums SA, rose 13.1 percent to 30.3 million euros, or $42.2 million.
As reported, the company registered a 30.3 percent full-year sales gain to 398.3 million euros, or $554.7 million. At constant exchange, revenues were up 32.9 percent. Dollar figures are calculated from the euro at the average exchange rate for the period in question.
“With continuing momentum at the start of this year from sustained sales — particularly by the Jimmy Choo and Montblanc brands — we are able to confirm our full-year target for sales of 400 million euros [or $526.6 million at current exchange] in 2012,” stated Philippe Benacin, Inter Parfums SA’s chairman and ceo.