Luxury goods retailer Folli Follie has posted a 44 per cent jump in first quarter pre-tax profit to EUR16 million, up from EUR11m in the same period last year.

The Greek company, which holds a 25 per cent stake in the Hellenic Duty Free Shops chain, also reported a 33 per cent rise in sales to EUR47.2m for the quarter, up from EUR35.5m in the year-ago period.

Japan contributed 31 per cent of the company's total sales for the quarter.