American cosmetics giant Estée Lauder has had another excellent year, with both net profit and turnover going up. Its fourth quarter broke every record, its New York main office said.
8 % turnover increase, 18 % profit increase
Estée Lauder closed its broken fiscal year 2013-2014 with a 1.2 billion dollar (900 million euro) net profit and an 11 million dollar (8 billion euro) turnover. Compared to its previous fiscal year, its net profit grew 18 % and its turnover grew 8 %, outperforming the entire cosmetics market and its main competitors L'Oréal, Elizabeth Arden and Coty.
The company, which has 29 brands (like Clinique, MAC and Estée Lauder), is active in more than 150 countries and managed turnover growth in every branch. Skin care grew 7 % and is its largest branch, representing 4.77 billion dollars. Make-up is second, with a 4.21 billion dollar turnover (+ 9 %).
Perfume also managed a 9 % turnover increase, to 1.43 billion dollars. For the first time ever, the hair product branch crossed the 0.5 billion dollar mark (515.6 million dollars to be exact).
Fifth excellent year in a row
"2014 is the fifth fiscal year in a row in which we have posted excellent results for our company and our shareholders", a satisfied CEO Fabrizio Freda said. "This success' cornerstones are our strong brands, our many innovations and a sharp focus on fast-growing markets."
For its current fiscal year, the cosmetics giant expects another turnover growth of 6 to 7 %.