LONDON — Buoyed by new launches and extraordinary measures, first-half sales and net income at fragrance manufacturer Interparfums rose 29 percent and 68 percent, respectively.
The company said Thursday that sales totaled 209.3 million euros, while net income amounted to 21.7 million euros. Sales growth came from the “continued strength” of the Jimmy Choo and Montblanc fragrance franchises and from new launches at Coach and Rochas, the French manufacturer and marketer said in a statement.
In the first half, the company said its marketing and advertising investments were up more than 40 percent, with the aim of building market share and supporting launches including Mademoiselle Rochas, Jimmy Choo L’Eau and Jimmy Choo Man Ice.
Operating profit was up 53 percent to 33.1 million euros, while net income got a boost from a non-recurring tax expense that had impacted the first half of 2016. The company said its net cash position was more than 130 million euros.
Philippe Santi, executive vice president and chief financial officer, said the company’s business model allowed it to generate a high operating margin. He added that in light of marketing investments planned for the second half and based on euro-dollar exchange rates, operating margin should range from 13 percent to 13.5 percent in the full year.