By  on March 15, 2017

MILAN — Safilo Group SpA on Wednesday said it more than doubled its net profit last year as the group generated free cash flow in 2016. The Italian eyewear company said first-quarter sales results will be impacted by deliveries out of its Padova warehouse.

In a statement after the close of trading in Milan, where Safilo is listed, the company said its full-year 2016 net profit, adjusted for nonrecurring items, more than doubled to 15.4 million euros, or $17 million, from $6.9 million euros, or $7.58 million, reported in the full-year 2015.

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