March 4, 2019 / 8:39 AM / 3 months ago

UPDATE 1-France's Interparfums raises full-year revenue guidance

(Adds background, share price, analyst and CFO’s comments)

March 4 (Reuters) - French perfumes maker Interparfums raised its full-year revenue guidance on Monday following a strong start to the year.

Interparfums said it expected 2019 revenues of 480 million euros ($544.75 million), up from 470 million euros announced in January. It also expects an operating margin of about 14 percent for the year.

“We can expect more outlook raises from this company”, a French analyst told Reuters, noting that Interparfums has a good track record for guidance and generally performs better than its own expectations.

The company said full-year 2018 revenue increased 8 percent to 455 million euros, driven by its flagship brands, with the Coach fragrance leading the way.

Full-year operating profit rose by 10 percent to 66.2 million euros, with a 14.5 percent operating margin.

The analyst said that although the operating margin beat the company’s guidance, it was in line with wider market expectations.

Shares in Interparfums were 4 percent higher at 0810 GMT.

The company said it was maintaining its previously announced level of investment with a marketing and advertising budget of 105 million euros.

“We are continuing to invest and are planning a corresponding increase in our marketing and advertising budgets to drive our brand building process over the long term”, Executive Vice President and Chief Financial Officer Philippe Santi said in a statement.

The French perfumes maker also proposed a dividend per share of 0.71 euro for 2018, which represents a 17 percent increase in comparison with 2017. ($1 = 0.8811 euros) (Reporting by Michal Aleksandrowicz; Editing by Rashmi Aich)

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