Puig Reports Strong Sales Growth Despite Profit Decline

Revenue rises 9.6% driven by fragrance and skincare, but profits impacted by IPO and acquisition costs.

Net sales reached €2.2 billion in H1 2024, with a 9.6% increase year-on-year.
Net profits fell 26.6% to €157 million due to IPO and acquisition expenses.
Fragrance and fashion segments grew by 10.7%, with skincare up 25.2%.
Challenges in the Asia-Pacific market affected makeup sales, particularly for Christian Louboutin and Charlotte Tilbury.
Puig remains optimistic, maintaining full-year guidance for high single-digit revenue growth.