Sales for packaging player PSB Industries up on cosmetics restocking

14-Jan-2011 - Last updated on 14-Jan-2011 at 11:45 GMT

France-headquartered packaging and chemicals company PSB Industries has recorded significant sales growth for 2010, driven by restocking in the cosmetics and fragrance sector.

The company, which offers injection moulded plastic packaging for the cosmetics and fragrance industries as well as food packaging and mineral chemicals, said sales for fiscal year 2010 totalled €228.6m, up 23.3 per cent from last year in constant currencies.

The beauty packaging business, which brought in €145.1m of the total revenue for the year, experienced a sales growth of 29.3 per cent in constant currencies, compared to last year.

According to the company, sales for the year have benefited significantly from the restocking in the cosmetics and fragrance sector in comparison to last year.

In addition, the company said that new launches in the US and Mexico have also helped drive results, following the acquisition of Massachusetts-based company Mar Lee in 2008.

Profit up in half year results

Although the full results have not yet been released for the full year, interim statements suggest that the improved sales have helped boost profit for the company.

For the first half of the year revenues reached €112.8m, and operating profit stood at €11.5m compared to the €4.0m recorded in the first half of the 2009. According to the company, this increase in operating profit was down to the increase in sales but also the successful implementation of cost-cutting plans.

Clients of PSB Industries in the cosmetics and perfumery sector include L’Oreal, Lancôme, Chanel and Clarins.