Italian sportswear and athletic shoe firm Lotto Sport Italian on Thursday posted a 2002 operating profit of $9.2 million on the back of higher sales but did not provide a year-ago profit figure.

Speaking with 'La Tribuna,' president Andrea Tomat said turnover rose 13.2 per cent last year to $265m from 2001, with footwear and apparel accounting for an even percentage share and accessories making up the remaining five per cent.

The company added that it expects turnover to increase to $378m by 2005 and $540m by 2008. Lotto currently has a presence in more than 80 countries around the world.