Shiseido increases sales by 8.6% in third quarter boosted by China
The Japanese perfume and cosmetics company has ended the period with a profit of 75.2 billion yen (689 million dollars).
Shiseido, on the rise in third quarter. The Japanese perfume and cosmetics company has ended the period with a profit of 75.2 billion yen (689 million dollars). Its sales were 282 billion yen (3.1 billion dollars, up 8.6% compared to the previous year.
The operating profit of the group in the third quarter was 34.3 billion yen (379.9 million dollars), up 13.3% compared to the same period of the previous year, thanks to the decrease of tax expenses, amongst other factors. Year to date sales of the group stood at 864.6 billion yen (7.7 billion dollars).
Asia has been the region where the company’s sales have registered a better performance during the third quarter. Specifically, China led the company’s growth, with sales up 12.7%. In its local market, Japan, Shiseido grew by 1%, while in the rest of Asia it grew 3.4%. Outside Asia, however, the company’s revenues evolved at a slower pace.
For the full year, Shiseido expects a growth of between 3.6% and 4% of its revenues. The fiscal year 2019 is the second year of the three-year period of the company’s Vision 2020 strategy in which they aim to accelerate its growth,” the company said in a statement.
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