Shiseido expects fiscal 2014 net profit of 19B yen, compared to loss of 15B yen in year-ago period, boosted by weaker yen; operating profit could rise 61% to 42T yen
January 31, 2014
– The Japanese cosmetics group Shiseido noted Friday its 2013-2014 annual forecasts, after the first nine months marked by a tripling of its net profit , boosted by a weaker yen.
For the year from 1 April 2013 to 31 March 2014 , Shiseido now expects a net profit of 19 billion yen ( 135 million euros at current exchange rates) , a quarter more than before, after net loss of 15 billion yen in the previous year.
Operating profit could reach 42 trillion yen , 2 billion more envisaged so far and 61 % more than last year. Turnover could reach 750 billion yen ( 5.55 billion euros ), 10 billion yen over previously envisaged and 10.7 % more than in 2012-2013.
The group, with whom L'Oréal announced in October to be entered into exclusive negotiations to buy his French brands Decleor and Carita , spoke in a statement the benefits of the depreciation of the yen.
During the first nine months of the year (April to December) , its sales abroad have indeed stagnated at almost equal rates of exchange , but reported 23 % more year on year thanks to the fall of the currency Japanese . The yen has indeed unscrewed about a quarter against the euro and the dollar in 2013, which clearly perceives that Shiseido more income from abroad, when converted into the product in yen .
Sales in Japan have more or less stagnated , turnover of the group in fine rose 10.4% to 535 billion yen ( 4.2 billion euros at the exchange rate established by the group) .
Its operating profit benefited and was boosted by addition of premium reductions and costs for employees' pensions in Japan. He flew to the final 264% to 33.3 billion yen. Its net profit jumped by the same amount to 16.7 billion yen ( 131 million euros) .