Inter Parfums raises full-year outlook on strong Q3

Inter Parfums has upped its outlook for the current year after recording an increase in sales and profit in the third quarter.

In the three months to September 30, the Paris-headquartered company reported a 7 percent increase in net sales to 280 million dollars. At constant currency exchange rates, sales were up 12 percent.

The company’s net income widened to 41.4 million dollars from 38.3 million dollars a year earlier.

Finance chief Michel Atwood said the company managed to offset the increase in expenses linked to inflation “through selective price increases, fine-tuning product mix, and identifying and leveraging scale benefits throughout our organization”.

He said: “As has been the case for most of 2022, in the final quarter of the year we are confronting inflation, Covid-19 restrictions in China, the relentless strengthening of the US dollar, supply chain disruptions, and recessionary fears globally.”

But despite that, the company upped its full-year outlook on the back of its robust Q3 results.

Inter Parfums now expects net sales of 1.025 billion dollars, up from its previous guidance of 1 billion dollars.

It also raised its diluted earnings per share (EPS) outlook to 3.40 dollars from 3.25 dollars.