Following its third-quarter results, Douglas has revised its outlook upwards for the fiscal year 2023/24, now anticipating revenue growth of about 8.5%, up from the previously forecasted 7%.

Following its third-quarter results, the perfume retailer Douglas has revised its outlook upwards for the fiscal year 2023/24, now anticipating revenue growth of about 8.5%, up from the previously forecasted 7%.

Additionally, the company, listed on the SDax index of secondary stocks, is on track to achieve its projected medium-term earnings before interest, taxes, depreciation, and amortization (EBITDA) margin of 18.5%. Last year, this figure was at 17.7%.

Since its IPO in March, the company’s stock has experienced significant volatility but this morning showed signs of stabilization, climbing 5.8% to €18.32.

Revenue for the group rose by 7.3% during the quarter from April to June, with both in-store and online sales contributing equally to this growth. For the three-quarters of the year, growth stood at 8.7%, translating to a revenue of €3.5 billion. Full financial results will be published on August 14.

Douglas is also increasingly focusing on its core business of high-end cosmetics. On July 16, the company signed an agreement to sell its online pharmacy, Disapo, to MYA Health. The deal is expected to close by the end of July, which Douglas hopes will enhance its profitability.