Estee Lauder raises expectations based on improving sales
U.S. beauty giant Estee Lauder has raised expectations for its profit for the fiscal year 2012/2013 to 6-7%, based on an increase in third quarter (fiscal year 2012/2013). For the three months ending 31st December 2012, the net profit of the Estee Lauder Companies increased by 13% to a total of 447,5 million dollars. The positive results come as a surprise given the slow down in Europe and South Korea as well as an unfavourable exchange rate. The turnover of the company increase by 7% attaining a total of 2,93 billion dollars.