Luxury goods group Tod's made a net profit of €22.9 million for the first nine months of 2004, unchanged from the same period in 2003.

Earnings before interest, tax, depreciation and amortisation grew 18 per cent to €72.8m, whilst revenue grew 15.8 per cent to €331.6m.

Operating profit increased by 20 per cent to €45.1m while pretax profit increased by 3.0 per cent to €42m.

The Tod's brand saw a 17.5 per cent increase of sales, which accounted for 55.9 per cent of the total turnover, whilst sales of the Hogan's brand went up by 19.4 per cent and Fay by 9.3 per cent.

Sales within the European market increased 14 per cent, with sales in the domestic Italian market growing by 15 per cent and the American market by 6.0 per cent.