Vadera’s perfume business still smells rosy

ENTREPRENEUR Sanjay Vadera’s perfume distribution business, Fragrance Acquisitions, increased pre-tax profits by 28% to £4.6m in the year to April 30 despite sales remaining flat at £56.7m.

The company, whose main trading arm is known as Per-Scent, provides perfumes to independent retailers, pharmacists, online traders and to Mr Vadera’s own Fragrance Shop chain of stores.

It distributes brands such as Elite model look, Iceberg, Lanvin and Coleen – the perfume branched launched by Coleen Rooney.

Notes to the company’s accounts prepared by Mr Vadera state that it had managed to achieve a consistency of its sales “through maintenance of the existing customer base”.

Increased profits, meanwhile, were delivered “through improved purchasing performance and effective cost management – particularly foreign exchange rates.

The company had also operated the Perfume Point busines, which sold fragrances online and through outlets at eight McArthur Glen outlet villages around the UK. However, this was sold by the year end to The Fragrance Shop business.

Accounts show that the division was responsible for more than £2.4m of sales and around £85,000 of profits. Fragrance Acquisitions made a profit of more than £285,000 on the sale.