Revlon sales lifted by good duty-free performance

Andrew Pentol

7-May-2008

The company’s duty-free business and higher shipments in certain Asia/Pacific countries have helped spark a 3.2% sales increase in the region

Beauty supplier Revlon has announced its results for the first quarter of 2008. Net sales in the three months ended March 31 decreased 2.5% to $320.4m compared with the same period last year. However, the company registered an increase of 3.2% in net sales in the Asia/Pacific region—which includes Africa—due to higher shipments in South Africa, Hong Kong and Taiwan and the company’s duty-free business.

In the company’s international operations, net sales in the first quarter of 2008 increased 5.8% to $143.2m. EBITDA was $58.1m compared with $32.5m in the same period last year.

Revlon president and CEO David Kennedy said: “Our strong financial results for the first quarter of 2008 build upon our excellent performance in 2007. These results continue to validate our strategy and we remain focused on increasing the value of our company and building the Revlon brand. We have delivered improved margins and demonstrated our ability to control costs and improve cash usage. All combined we expect to generate sustainable profitable sales growth and positive free cash flow.”

Bookmark This Article

Delicious    Digg    StumbleUpon    Facebook

Your Comments On This Article

Name:
Email:
- Not displayed on website
Comments:
Please note:
Only alpha-numeric characters allowed for comments
Security Image:
Please enter image text in the security code field
Security Code:
 

Related Stories

Articles bearing the symbol  require subscription.

(1-Mar-2011) - Revlon produced net sales of $1,32bn in 2010 compared to $1.36bn the year before
(11-Feb-2011) - Rise of 82% in shipments to duty-free stores helped to boost the liquor supplier’s sales by 13.6% in 2010
(13-Oct-2001) - Revlon?s Middle East business seems relatively untouched by recent events, but its Asian division has been harder hit, says travel-retail director Asia Pacific Art Miller.
(15-Mar-2004) - Revlon's year-on-year sales are predicted to grow by 30% to 40% in 2004, according to managing director global travel-retail & Asia/Pacific distributor markets Art Miller
(15-Jul-2008) - Edolux Trade has been appointed to represent Revlon\'s products in South America