Art & Fragrance announces 2015 half-year results
October 29, 2015
Zollikerberg near Zurich, 29 October 2015 - Art & Fragrance SA (BX:ARTN), which is active in the creation, development, marketing and worldwide distribution of luxury goods, generated operating revenue of CHF 62.1 million in the first half of 2015; this was 9% lower than in the first half of 2014 due to currency conversion effects, but stable in local currency. Net Group profit fell to CHF 0.7 million, due not only to the currency situation, but also to higher project costs, the economic environment in a number of sales regions and lower perfume revenues. The latter decline was mostly caused by staggered procurement and has already reversed by the third quarter of 2015. Art & Fragrance remains confident in its fundamental growth outlook.