• FY net profit up 43% to EUR150m
  • Revenues up 9% to EUR1.258bn
  • All areas except Japan up in double digits

Fashion business Salvatore Ferragamo posted a near-50% increase in its annual net profit, boosted by higher international sales and a share buy-back.

The Italian company said all regions except Japan had registered double-digit turnover increases in 2013: Asia Pacific was up 10%, boosted by 20% retail growth in China alone.

Europe revenues rose 13%, North America was up 12%, Central and South America surged up 15%, and Japan edged up by 1%.

Ferragamo’s profit increase was boosted by a significant reduction in its minority interest, thanks to a buy-back of stakes in its distribution companies in Greater China.

The company said: “The business trend recorded in the first months of the current year justifies expectations for growth also throughout 2014, in the absence of severely unfavourable market conditions.”