CLARINS NET RISES 46% IN 1ST HALF

PARIS--Clarins said Friday that net profits rose 46 percent to $21.1 million (111.2 million francs) for the first half, against a year ago.
This includes an exceptional charge of $8.7 million (46 million francs) related to the reorganization of Clarins' international distribution, which cut into first-half profits by $4.7 million (24.6 million) francs, the company said.
Consolidated sales increased by 16.5 percent to $219.8 million (1.16 billion francs) for the half, compared with a year ago.
Sales for skin care products, which represent 77.8 percent of overall revenues, rose 7.9 percent, while fragrances and color cosmetics jumped 32.6 percent.
The above comparisons are based on average exchange rates. Had exchange rates remained constant, the firm said, earnings would have been up 41.1 percent and sales 12.9 percent.
The company noted that sales of its Angel scent by Thierry Mugler should surpass $18.9 million (100 million francs) by the end of the current year. Also, sales for the current half will be fueled in part by the launch of the Bio-Ecolia fruit-acid mask.
Because of a strong second half in 1993, the firm said, however, it doesn't expect the sales gain in the last six months of 1994 to be as strong as in the first half. For the year in total, the company said it is looking for a sales gain of 10 percent.

To access this article, click here to subscribe or to log in.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus