ITALY: Salvatore Ferragamo 9-month profit climbs 8.1%
- 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.
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