Source: CosmeticsDesign.com
"Tupperware Brands said that sales and profits across its three divisions, including cosmetics, were above expectations, boosted by a particularly strong performance in developing and emerging markets.But although profit increase for the company as a whole was strong, profits for the cosmetic division was hit by restructuring in Mexico and continued investment in the booming South American market.
The company, which manufactures and markets a range of consumer goods, including food and beverage containers and associated products, together with a portfolio of beauty and cosmetic brands mainly sold through direct sales channels, said that sales for its second quarter were up 7 percent in local currency and 12 percent in US dollars to reach $492.9m.
Likewise, net income also showed a healthy rise, up from $25.2m in the corresponding quarter of 2006, to reach $35.5m, a leap of nearly 41 percent.
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