ITALY: Marzotto Q3 Net Profit Up 42 Per Cent
Italian textiles and clothing maker Marzotto said on Friday that third quarter consolidated net profit rose 41.9 per cent year-on-year to 105bn lire ($46.88m).Group net turnover was up 16.5 per cent to 990bn lire while operating profit rose 41.8 per cent to 221bn lire, the company said in a statement.For the first nine months of 2000, net profit rose 42.1 per cent to 184bn lire on turnover up 12 percent to 2.451 trillion lire. Marzotto said the results were boosted by the contribution from its German clothing unit Hugo Boss.For the full year 2000, Marzotto said that taking into account the seasonal trend of sales and the order portfolio of the various sectors it expected to see a higher percentage rise in turnover than that seen in the nine months period.This trend would confirm already announced forecasts of 2000 group operating profit as a percentage of turnover above the 11.2 per cent posted in 1999.(C) Reuters Limited 2000.
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