Italian luxury goods group Tod's posted a net profit of €20.3 million in the first six months of 2005, up 44 per cent on the same period last year.

First-half sales rose 22 per cent to €236.9 million from €195 million a year earlier, boosted by strong sales in Europe and Asia. Footwear sales climbed 19.4 per cent and accounted for 66.6 per cent of consolidated turnover.

The company said in a statement that earnings before interest, tax, depreciation and amortisation (EBITDA) were €47 million, up 34.3 per cent year-on-year.

Turnover of the Tod's brand rose 23.4 per cent, while Hogan was up 21.3 per cent and Fay saw a rise of 15.5 per cent.

Sales in Asia rose 37.5 per cent, while the European market posted a revenue increase of 23.8 per cent. Italy remained Tod's largest market, generating sales of €107 million, up 20 per cent.