Salvatore Ferragamo 9-month profit climbs 8.1%

ITALY: Salvatore Ferragamo 9-month profit climbs 8.1%

By Leonie Barrie | 15 November 2012

9-month net profit rose 8.1% to EUR84.7m
Total revenues up 18.7% to EUR832.6m
Q3 growth slowed to 10.7%

Italian luxury fashion business Salvatore Ferragamo SpA has seen its profits climb 8.1% in the first nine months of the year, helped by a double-digit hike in revenues.

The group said revenues showed "significant growth" in all geographical areas, product categories and distribution channels.

But it warned growth slowed to 10.7% in the third quarter, compared with the same period last year.

Global tourist flows helped revenues in Europe rise 15.7% in the quarter, while turnover in its largest market, Asia Pacific climbed 6.1%. A significant contribution also came from North America, where revenue was up 12.6% at constant exchange rates.

Sectors: Finance, Footwear