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Last week, the American cosmetics company surprised the markets by raising its forecast of financial results for the entire fiscal year 2018. The excellent quarterly results of the sales of its perfumes and cosmetics are the central cause of such optimism. The net profit of the American company, which includes such brands as Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, Tommy Hilfiger, Kiton, La Mer, Bobbi Brown, Donna Karan New York, DKNY, Aveda, Jo Malone, and others has increased by 45% to reach 427 million dollars for its first fiscal quarter ending on September 30. The result implies a profit per share of $ 1.21, which is more than 20% that of consensus that the analysts predicted, which they predicted would not reach the dollar per share. A solid growth An exultant Fabrizio Freda, president and CEO, highlighted the success in choosing the company's brand portfolio. The executive pointed out: "Taking advantage of the global momentum of the last fiscal year, we benefit from continuous acceleration in China, Hong Kong, global travel sales and online sales, as well as strength in several developed and emerging markets in Europe." The company experienced an annualized sales growth of 14 %, exceeding 3200 million dollars at the closing on 30/09. If this increase is highlighted, it is even more the improvement in operating margin, which reached a 36 % increase, demonstrating that its policy of restructuring expenses is taking effect. It also benefited from a favorable conjuncture of the EUR / USD exchange rate that made its products more competitive in the past year. As for the balance sheet figures, the liquidity ratio is discreet, below 2, however, the weight of its inventories is relatively low, which makes it have an Acid test of 1.27, very adequate. It has a ratio of equity similar to that of a year ago (39%) but with the positive data that it has been able to restructure part of its debt and place it in the long term. Forecasts for the full year Forecasts for the entire fiscal year indicate an increase in sales of 11 % with a positive impact in the same due to favorable rates of changes of 2 %. It is expected that the acquisitions made in 2017 of Too Faced and BECCA will contribute approximately 2 percentage points of incremental sales. Diluted net earnings per share reported are projected at between $ 3.77 and $ 3.88. The Company expects to assume the associated charges. with previously approved restructuring and other activities in fiscal year 2018 from approximately $ 135 million to $ 155 million, equivalent to $ .24 to $ .27 per common diluted share. Net earnings per share diluted before charges associated with restructuring and other activities are projected between $ 4.04 and $ 4.12. Needless to say, the listing of Estee Lauder's shares experience a sweet moment on Wall Street. The share quoted at 74 USD on December 1 2016 , while currently trading at 122 USD. Brilliant trajectory based on good management, a good conjuncture in its key markets and a foreign exchange environment that has benefited US companies.

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