The Estée Lauder Companies has reported higher than anticipated quarterly profit in the quarter ended 30 June. Net profit rose 25% to $51.2m in the company’s fourth quarter, compared with $41.1m in the prior year period, boosted by strong net sales, which increased 9% to $2.25bn.
For full fiscal 2012, the company reported net sales of $9.71bn, a 10% increase compared with 2011 and net earnings rose 22% to $856.9m.
Fabrizio Freda, Lauder president and ceo called the period “a very strong fourth quarter in which we generated double digit growth in sales” and credited “continued momentum in the US and strong growth in China and travel retail” with generating sales growth.
Skin care sales were up 15% thanks to new launches from Estée Lauder and Clinique, while make-up grew 13%. And fragrance and hair care both grew, but more softly.
Growth is expected to continue in fiscal 2013 with Q1 percentage growth set to fall in the range of 5-7%.