Ferragamo reports record 81 percent growth in net profit for the first half 2013
Italian family owned luxury company Salvatore Ferragamo reports record results for the first six months of 2013 – a 26% jump in Ebtida and an 81% increase in net profit to 81 million euros, compared to the same period last year. For the first half of 2013, Ferrafamo reported sales of 625 million euros, an 11% increase, with the U.S. leading with a 15% increased – followed by Europe (+14) and Asia Pacific (+13%).
At current exchange rates, sales of Ferragamo in Japan were down 13% and South and Central America with a modest +7%. By June 30th, Ferragamo made investments of 25 million euros, especially in retail expansion, mostly directly operated stores.