Cosmetics maker Kalina Q1 net profit soars 60%

Russia’s top cosmetics producer Kalina posted a first quarter 2011 net profit of 239.591 million rubles ($8.454 million) to IFRS, up 60 percent year on year, the company said in a statement on Monday.

Sales edged up 3.1 percent to 2.591 billion rubles, the firm said.

Gross profit in the first quarter of 2011 increased by 3.8 percent to 1.372 billion rubles year-on-year, while gross margin increased to 52.9 percent from 52.6 percent.

“That growth was the result of increasing the proportion of more profitable products in the company’s sales,” Kalina said.

Kalina’s operating profit increased by 32.5 percent to 350 million rubles due to gross profit growth and maintaining advertising expenses at the same level.

EBITDA increased 11.8 percent to 391 million rubles, the firm said.

MOSCOW, May 23 (RIA Novosti)

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