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The Company is a manufacturer and marketer of beauty and related products which include cosmetics, fragrance and toiletries, gift and decorative, apparel and fashion jewellery and accessories.
This is a high ROE business which has good growth prospects, especially overseas. Restructuring expenses in recent years have understated earnings leaving a fair earnings multiple when these charges are factored out. Between growth in earnings and a decent yield this should outperform the S&P.
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