ITALY: Brunello Cucinelli posts 26% FY profit rise
- FY net profit up 26.2% to EUR26.5m
- Net revenues rise 15.1% to EUR279.3m
- Investment plan bearing fruit, says CEO
Luxury fashion group Brunello Cucinelli recorded a 26% full-year profit surge, boosted by a significant increase in the company’s overseas turnover.
The 25.5% increase in export sales means that overseas revenues now account for 75.4% of the total, with revenues in Italy falling by 8.2% in the year.
Meanwhile, Brunello Cucinelli retail sales were up 42.9% in 2012, and wholesale revenues increased 20.3%, while multi-brand sales rose 5%.
“The 2011-15 major investment plan is bearing fruits: we have achieved excellent results in terms both of sales and operating profit,” said chairman and CEO Brunello Cucinelli.
“The order collection for fall/winter 2013 has come to a very positive end, and our collection – this is what matters the most – has been considered modern and contemporary.
“All this leads us to envisage a very interesting 2013 in terms of revenues, profit and image.”
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