ITALY: Mariella Burani Q2 Profit Soars 46% On Surging Sales
The company earnings before interest and taxation for the three months ended June 30 of 3.3 million euros, compared to 2.3 million euros in the same period of last year.
Revenue surged 59 per cent to 81.9 million euros from 51.6 million euros in 2002 thanks to soaring sales in eastern Europe and the consolidation of German fashion firm Rene Lezard GmbH which it recently acquired.
"The positive signs we have received from the sale of the autumn/winter collection...allow us to forecast double-digit growth in 2003 group sales and a more-than-proportional rise in operating profit," is said in a statement.
It added future growth will be boosted by its June acquisition of Italian leather firm Biasia Francesco.
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