Italy's Mariella Burani Fashion Group posted a 46 percent drop in first-half pre-tax net profit after a unit's listing affected 2006 results, and pointed to "dynamic growth" this year.
Mariella Burani had net profit before taxes of 34.7 million euros ($47.53 million), down from 64.1 million euros in the same period last year, it said in a statement late on Friday. The figure was influenced by last year's initial public offering of its leather goods unit Antichi Pellettieri it said.
Sales rose to 372 million euros from 361.6 million euros and stripped of one-time items were up 18.3 percent. Leather goods generated 40.8 percent of revenues.
Earnings before interest, tax, depreciation and amortisation (EBITDA) slipped to 60.3 million euros from 87.8 million euros, it said. Excluding one-time items, the figure was up almost 20 percent.
"The strong performance realised in the first half of the year, combined with the continued expansion of our retail network and the positive results of the autumn/winter 2007-2008 sales campaign, lead MPFG management to confirm dynamic growth expectations for 2007," the statement said.
Comments
Comments are closed.