French perfume maker Interparfums on Wednesday forecast slightly better-than expected sales for 2020, helped by a summer business rebound that accelerated over the fall.
The group, which develops perfumes for luxury brands such as Jimmy Choo, Coach and Montblanc, revised up its full-year revenue forecast to above 340 million euros ($410.45 million), from around 320 million-330 million euros previously, with an operating margin of around 7% to 8%.
Analysts in a company-provided poll had expected an 8.8% margin and 336.1 million euros of revenue for 2020.
For 2021, Interparfums said it was confident it could return to a robust rate of growth and double-digit operating margin.
Read also > THE CRYPTOCURRENCY, A NEW BASE VALUE ?
Featured Photo : © Interparfums
