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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Safilo Group SpA | BIT:SFL | Italy | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.002 | 0.22% | 0.909 | 0.883 | 0.929 | 0.915 | 0.895 | 0.915 | 613,359 | 16:40:00 |
From Dec 2019 to Dec 2024
By Christopher Emsden
ROME--Italian eyewear maker Safilo Group SpA (SFL.MI) whose brands include Gucci and Hugo Boss posted an increase in first-quarter earnings despite losing its coveted license to make sunglasses for Giorgio Armani SpA.
Safilo, the No. 2 eyewear maker after Luxottica SpA (LUX), which captured the Armani license, said late Monday that its net profit rose 12% to 13.4 million euros ($17.5 million). Net sales advanced to EUR297 million, up 2.9% from the same period a year earlier.
At 1035 GMT Safilo's shares were up 9.5% at EUR11.50. Its market capitalization is now EUR648 million, compared with EUR18.9 billion for Luxottica that has seven times as much revenue.
Group net debt dropped to EUR220 million from EUR243 million at the end of March 2012, the company said.
Safilo managed to boost sales by 8.3% in Europe, despite the region's economic weakness, while its sales in Asia fell due to the "Armani effect" but the brands it still controls posted robust revenue growth.
Safilo's brands also include Polaroid and Dior.
Write to Christopher Emsden at chris.emsden@dowjones.com
Order free Annual Report for Luxottica Group SpA
Visit http://djnweurope.ar.wilink.com/?ticker=IT0001479374 or call +44 (0)208 391 6028
Order free Annual Report for Safilo Group SpA
Visit http://djnweurope.ar.wilink.com/?ticker=IT0004604762 or call +44 (0)208 391 6028
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