Sales and profits surge at SSL

HEALTH and lifestyle group SSL International showed its drive into new markets such as Russia and the Ukraine was paying off as sales soared 22% and profits rose from £76.5m to £115.3m.

The company, best known for its Durex condoms and Scholl footwear and care brands, said the acquisition of businesses last year in the CIS and Ukraine had added £123.2m of sales and £29.3m to operating profits.

Durex continued to perform strongly with sales up 4.8% to £293.7m boosted by strong growth in China, Poland, Germany, Austria, Switzerland and the Middle East. In Spain the company reported strong sales of its Durex play range of sex toys and lubricants.

Sales of Scholl Footcare rose 4.6% and Scholl Footwear 7.4%.

SSL, which has its European headquarters near Trafford Park, Manchester, said it had bought Polish condom brand, Rosetex, for £3.9m.

Chief executive, Garry Watts, said: ‘The global economy seems to be improving although in certain territories recovery will be slow. This is in line with our predictions and we continue to expect to perform strongly.

“The twin drivers of innovation-led organic growth in Durex and Scholl and well-chosen acquisitions support both our earnings growth target, of growing EPS by 50% in three years to March 2012, and continuing longer term growth ambitions.”