Japanese company Pola Orbis Holdings is set to beat analyst expectations and post 12 million yen in operating profit for the six months ended 30 June 2016.
The figure, up around 30 percent year on year, helped the company beat its own projection of 9.5 billion yen, which was boosted by demand for cosmetic products by foreign tourists.
With sales rising around 6 percent to approximately 106 billion yen, beating expectations by around 4 billion yen. This figure was boosted by tourists, which was up 4 percent year on year and amounted for around 7 percent of reported revenues.
The brand’s products encourage repeat purchase due to being designed for use for three months. Sales in department stores are on the up despite being rocky with foreigners, while sales through foreign sales representatives were also helping business.
Pola Orbis has predicted an 11 percent rise in operating profit for 2016, to 25 billion yen on sales of 219 billion yen – guidance that is expected to be boosted given the successful first half results.