PARIS — Inter Parfums SA posted first-half 2008 profits of 11.2 million euros, or $17.1 million at average exchange, up 6 percent on the same prior-year period.
Operating profits gained 16 percent to 17.7 million euros, or $27.1 million. Gross margin increased 13 percent to 76.8 million euros, or $117.5 million, representing about 60 percent of the firm’s sales.
“Significant ongoing marketing and advertising investments [up 19 percent] were accompanied by rigorous control of all other operating expenses,” stated the company.
As reported, Inter Parfums SA registered first-half 2008 sales of 128.3 million euros, or $196.4 million, a 16.3 percent increase on first-half 2007. At constant exchange, revenues gained 24 percent.
“Inter Parfums has achieved solid financial performances in an environment marked by particularly unfavorable economic and foreign exchange trends,” stated Philippe Benacin, Inter Parfums SA’s chairman and chief executive officer. “These positive results illustrate the effectiveness of our strategy, the quality of our brand portfolio and validity of our business model for generating growth in sales and earnings. In light of the good summer sales, strength in new markets, notably China, and the launch of the Van Cleef & Arpels Féerie and Jeanne Lanvin lines, we expect to meet our targets for the full year.”
As reported, Inter Parfums SA’s full-year 2008 sales guidance is about 260 million euros, or $366.1 million at current exchange.