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INTER PARFUMS sees sharp rise in H1 sales

14
Sep '05
Prestige perfumes manufacturer INTER PARFUMS S.A. announced the 2005 first half results.

- Operating margin: 14 percent
- Net margin: 9 percent
- Excellent sales growth

Consolidated first-half sales advanced sharply (up 32 percent at current exchange rates and 35 percent at constant exchange rates) compared with the first half of 2004.

- Earnings outperform targets
Measures implemented in connection with the new operating model (notably centralization in Paris of advertising expenses, corresponding increase in prices to distributors, adjusted promotional expenses) and rigorous cost-control contributed to a 14.1 percent operating margin for the 2005 first-half.

Despite the significant increase in royalties (+146 percent) and marketing and advertising expenses (+81 percent), this operating margin (not comparable with 2004) exceeded our internal targets and represents one of the highest performance in the industry.

Achieving a net margin of 9 percent also exceeded our internal targets

Click here to see the table:

• A solid balance sheet
At 30 June 2005, the company had a sound financial position with:
- shareholders' equity of € 90 million;
- limited financial debt of € 13.7 million (financing for the Lanvin license agreement) ;
- significant net cash of € 17.4 million.

• Strong growth outlook
According to plan, major lines will be launched in the fall under the Christian Lacroix (Tumulte) and Lanvin (Arpège pour Homme) brands, supported by significant advertising budgets. The second half will also be devoted to preparing a number of projects for 2006.

Paris based leading cosmetic company Inter Parfums is active in the perfume and cosmetics business and specializes mainly in prestige perfumes. Created in 1982 by Philippe Benacin and Jean Madar following their graduation from France's ESSEC business school, Inter Parfums began by developing mass market perfumes before deciding in the early 1990s to focus on the selective perfumes niche.

INTER PARFUMS S.A.


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