Most Recent Articles In Financial
Latest Financial Articles
- Avon Posts 16 Percent Sales Decline in Quarter
- Alibaba Q4 Net Profit and Sales Surge
- Europe’s Stock Markets Make Modest Gains
More Articles By
PARIS — Puig registered double-digit gains in both profits and sales last year.
The Barcelona-based fragrance and fashion group on Tuesday reported a 12 percent increase in net profits to 173 million euros, or $222.5 million.
The firm’s earnings before interest and taxes gained 21 percent to 254 million euros, or $326.6 million.
Company sales were 1.49 billion euros, or $1.91 billion, up 11 percent on-year, spurred by growth in international markets that generated 83 percent of the business, versus 64 percent five years ago.
Dollar figures are calculated at average exchange for the period to which they refer.
This story first appeared in the April 24, 2013 issue of WWD. Subscribe Today.
Puig said its share of the global selective perfumery market grew to 8.1 percent — allowing it to rank sixth worldwide — from 7.6 percent in 2011 and 5.1 percent in 2007.
Business at the firm’s fashion division advanced 23 percent last year, thanks to all of its brands — Carolina Herrera, Nina Ricci, Paco Rabanne and Jean Paul Gaultier.
Due to the slowdown in Europe, Puig forecasts more moderate growth in 2013. It also estimates that by year-end more than half of its sales will come from outside of Europe and the U.S., versus 45 percent last year.