Tod’s SpA posted a double-digit jump in 2005 profits, thanks to a lower cost base and a more advantageous tax rate. Net profits for the 12 months ended Dec. 31 increased 38.7 percent to 53.4 million euros, or $66.8 million, the company said Thursday. Sales rose 19.5 percent to 503 million euros, or $628.8 million, in line with preliminary figures released last month.
A new joint venture in Turkey, coupled with a well-received fall-winter 2005 collection, helped boost Benetton’s net profits and revenues last year. Net profits for the 12 months ended Dec. 31 grew 6.3 percent to 112 million euros, or $139.4 million, from 109 million euros, or $135.5 million, in 2004, the Italian fashion company said Thursday. All figures are converted at average exchange rates for the period to which they refer. Consolidated sales climbed 3.6 percent to 1.77 billion euros, or $2.2 billion, in line with preliminary results released earlier this month.
For complete coverage, see tomorrow’s WWD.