Wella first quarter results
This article was originally published in The Rose Sheet
Executive Summary
Cosmetics and fragrance division sales advanced 6.4% to $117.2 mil. (€1=$.91) in first quarter despite weak markets in travel retail and Germany, Darmstadt, Germany company reports. Yardley of London contributed 5.1% to sales growth, yet lowered operating profit due to start-up costs, company noted. Wella acquired Yardley in December (1"The Rose Sheet" Dec. 17, 2001, p. 8). Consumer division sales grew 3.4% to $214.3 mil., slightly below expectations, Wella says. Professional division sales increased 17.3% to $353.7 mil. in Q1, accounting for over half of overall sales. Consolidated sales climbed 10.8% to $685.3 mil., while net profit was up nearly 18% to $21.8 mil. in first quarter...