Inter Parfums gets 2010 off to a good start

Inter Parfums has reported a 7% rise in net profits for 2009 to €22.6m while sales went down 6.2% to €259.2m. Operating earnings dipped 2% to €33.7m after a year of tight control of spending, especially promotional budgets. Lower borrowing costs and foreign exchange hedging helped generate the improvement in net profits.

Inter's ceo Philippe Benacin said the company has started 2010 "well prepared for the period ahead". Current orders in the wake of the initial success of the Burberry Sport line have provided promising indicators for strong sales in the first quarter of 2010.

Inter produces perfumes under licence and Benacin said it was not ruling out new short-term or medium-term contracts. While the company has refocused on the Van Cleef & Arpels and Burberry brands, it signed two license contracts last year with the luxury shoe group Jimmy Choo and the Montblanc pen company.