Casual apparel group Stefanel SpA has posted pre-tax earnings of EUR7.7 million for the nine months to November 30 last year, up from EUR2.8m in the same period a year earlier.

The Italian company, which recently acquired a 50 per cent stake in Swiss airport retailer Nuance, also reported total revenue of EUR583m for the period, up from EUR172m in the first nine months of 2002.

Stefanel said its clothing division contributed EUR11.1m in earnings for the nine-month period, suggesting a five per cent year-on-year drop in profitability.