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Revenue growth continues at Ferragamo

Sep 28, 2015 Italy
Revenue growth continues at Ferragamo
One of the key players in the luxury sector has presented its consolidated results for the six months period ended at the 30th of June 2015. Growth continues at the Italian group
As of the 30th of June the group has posted total revenue of 722 million euros, registering a reported 10% increase (current exchange rates including the negative hedging effect of 23 million Euros), which compares to 659 million euros recorded in the first half of 2014. Revenue growth at constant exchange rates was 2%. Similar growth rates were registered during quarter two, at constant and current exchange rates.

The Asia Pacific area was confirmed as the group's top market in terms of revenues, increasing by 7% (-4% at constant exchange rates). The retail channel in China recorded a revenue growth of 17% (+3% at constant exchange rates) in the first six months of 2015, while trends in Hong Kong and Macao further deteriorated during the second quarter.

Europe posted an 8% increase in revenue (+6% at constant exchange rates) compared to half one in 2014, with an acceleration during the second quarter (+13%). The retail channel confirmed its double-digit growth (further accelerating in 2Q), while the wholesale business, negatively impacted by the geopolitical tensions in Eastern Europe and Greece, saw a stable turnover.

North America recorded an 16% revenue increase (+3% at constant exchange rates) in the first six months of 2015, accelerating during quarter two 2015 (+4% at constant exchange rates).

The Japanese market registered an 8% growth (+11% at constant exchange rates) in the first semester, while the Central and South America region continued the double-digit growth, posting an increase of 18% (+12%at constant exchange rates).

As of the 30th of June, the group's retail network included 380 Directly Operated Stores (DOS), while the Wholesale and Travel Retail channel included 267 Third Party Operated Stores (TPOS). To this adds the  presence in Department Stores and high-level multi-brand Specialty Stores.

In half one the retail distribution channel posted consolidated revenue up by over 11% (+3% at constant exchange rates). The wholesale channel, despite the hard comparison base and the ongoing geopolitical tensions in Eastern Europe and in Greece, registered an increase in revenues of 6% (stable at constant exchange rates).

Among the product categories it is especially worth highlighting the increase of handbags and leather accessories, that posted a growth of 16% in the first semester, while the performance of fragrances (-5%) was penalized by the unstable situation in Eastern Europe.

 The Group Net Profit reached 88 million Euros, as compared to 78 million Euros in similar period last year, marking an increase of 13%.

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