International Growth Boosts H1 Profit At Douglas Holding

Retail major Douglas Holding has seen its first-half net profit rise 2.9% year-on-year to E88.8m, as it expanded its perfume shop chain outside Germany.

Pre-tax profit for the quarter ending
31 March was up 4.1% to E136.5m, while sales grew 6.1% to E1.75bn.
Like-for-like sales were up 2.7%. Sales in Germany rose 1.9%, while
international sales jumped up 15.2%. During the half, Douglas opened
44 perfumeries outside Germany, and also bought a stake in a Baltic
chain of perfume stores. The perfumery division saw sales rise by
9.0% to over E1.0bn, with international sales up 15.3%, boosted by
strong business in Poland, the Netherlands, Italy, Russia and
Spain.
Douglas said it still expects full fiscal-year sales growth
to grow by 4-6%, with same-store sales up 7-9%. Pretax profit is
expected to grow by E150m.