Penhaligon’s bounce paves way for sale

HISTORIC British perfume maker Penhaligon’s increased pre-tax profits by 30 per cent last year, helping pave the way for a potential sale of the business. The firm, which dates back to 1870, said pre-tax profits rose to £1.1m from £812,004. The healthy figures could prompt owner, Fox Paine & Company, to seek an exit for the business.