• Q2 earnings drop to EUR82m
  • Sales grow 6%
  • China sales rise 11%

Fashion business Salvatore Ferragamo has booked a drop in earnings in the first half but saw sales increase in all regions.

Group net profit dropped to EUR82m (US$108.1m) in the six months from EUR87m in the prior year period. The company posted a EUR13m capital gain in 2013 from the disposal of its stake in Zefer. Minus this, the company would have recorded a 10% increase.

Group sales grew 6% to EUR659m, while in China, sales were up 11%.

The North American market posted revenue growth of 7%, and in Central and South America sales were up 23% thanks to distribution in the region having been reorganised.

In Europe, sales grew 9%, despite the geopolitical tensions which negatively impacted the global tourist flows.

The Japanese market grew 6% but sales were down 4% in the second quarter, penalised by an expected slowdown due to the consumer tax increase.