Virgin Cosmetics delivered a 34 per cent sales fillip to investors in the past year.
The Victory Corporation-owned business, which makes the lion's share of sales through direct selling agents, generated an operating profit ofÂŁ3.3 million in the year to March 31 2004. Virgin Cosmetics shops delivered like-for-like sales growth of 5 per cent. It is now using stores as recruiting grounds for agents.
Victory, which disposed of the unprofitable Capo clothing business last year, turned a pre-tax loss ofÂŁ7.9 million into a profit ofÂŁ3.3 million on sales ofÂŁ64.3 million.
Seymour Pierce analyst Richard Ratner said: 'The business is built on a combination of the professionalism of its employees and consultants, the quality of the product and a top-class service proposition.'
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