PARIS — Net profits at Inter Parfums SA rose 10.5 percent in the first half of 2012 to 18.9 million euros, or $24.5 million.
The French subsidiary of Inter Parfums Inc. said operating profits increased 12.3 percent to 29.2 million euros, or $37.9 million. The firm’s gross margin gained 25.1 percent to 132 million euros, or $171.3 million.
As reported, first-half sales grew 28.1 percent to 208.9 million euros, or $271.1 million, spurred especially by the Montblanc, Jimmy Choo and Boucheron scent businesses and a favorable foreign exchange. At constant exchange, revenues climbed 23.6 percent in the six months.
Dollar figures are converted at average exchange rates for the period to which they refer.
“These results highlight the group’s ability to deliver solid and profitable growth by ramping up marketing and advertising budgets in a planned, sustained and targeted manner,” stated Philippe Santi, Inter Parfums’ executive vice president and chief financial officer. “Inter Parfums furthermore has substantial resources to acquire one or more brands, either on a proprietary basis or as a licensee, based on a cash position in early 2013 of nearly 200 million euros [or $255.6 million at current exchange]. In this context, opportunities for external growth will be studied without haste and with an objective of maintaining the quality and homogeneity of our portfolio.”
As reported, Inter Parfums’ talks with Burberry ended in late July. The fashion brand will at the end of this year buy back its fragrance license for 181 million euros, or $231.4 million, exclusive of receivables, inventories and other assets.