Korres sales rise by 0.6% in H1 2012

Cosmetics and body care products manufacturing firm Korres has reported a 0.6% rise in consolidated sales to €21.7m for the first half ended 30 June 2012, up from € 21.6m during the same half of 2011.

The firm has posted a net profit after tax and minority tax of € 1.4m, an increase of 1.3% from € 1.39m in the corresponding period of the previous year.

Korres Gross Profit Margin also improved by 430 basis points reaching 63.8%, an increase from 59.6% for the same period in 2011.

According to the firm, the growth was achieved by a result of the product mix and sales policy rationalisation as well as cost improvement.

The firm’s earnings before interest, tax and depreciation (EBITDA) increased by 0.4% in the first half of the current year to €5.1m, as against €5.07m for the same period in the 2011.

The firm said the growth was possible due to the gross profit margin improvement and the group’s conservative operating expenses policy.

Korres said the overall growth in the first half was achieved as the group continued to actively support the brand focusing on advertising, new product launches, refreshed product categories, brand website relaunch, distribution network and scientific partnerships.

The firm said it is also aiming to expand the brand’s presence in pharmacies in Spain, Germany, UK and Russia, while in North America, the group continues its growth through its cooperation with Johnson & Johnson.

Korres is a Greece-based cosmetics brand, whose portfolio includes facial care, hair care, suncare, makeup, fragrance, body care, men care, dailies and herbal pharmacy.