• Q1 net profit down slightly to EUR19.4m
  • Revenues fall 0.9% to EUR453m
  • Highlights 12% sales hike in developing countries

Fashion company Benetton recorded slight declines in its first quarter profit and sales, despite strong progress in the Italian business’s emerging markets.

Traditional western markets experienced a 5% revenue fall, but developing and high-growth markets posted sales up 12%, Benetton said.

Among the highlights were Russia, up 37%, Mexico, up 26%, and Korea, up 17%.

The company said its profit equated to 4.3% of revenues, a fraction down on the same period last year.