MILAN - Italian fashion group Aeffe SpA on Thursday confirmed growth in full year sales and profits, after reporting a 28.7 percent hike in first-half earnings, net of non-recurring items.
The company, which operates the Alberta Ferretti, Moschino, and Pollini brands and produces collections for Jean Paul Gaultier, posted net profits of 6 million euros, or $9.2 million at average exchange.
Consolidated revenues for the first six months of the year gained 2.1 percent to 146.5 million euros, or $224.2 million, although at constant exchange and excluding the effects of sale of a stake in the Narciso Rodriguez brand to Liz Claiborne Inc. in May 2007, these gained 5.9 percent.
Earnings before interest, taxes, depreciation and amortization edged up 0.2 percent to 20.9 million euros, or $32 million.
“Based on these results and on the current orders backlog for the fall/winter 2008, I can confirm that 2008 will show a growth in sales and profits,” Aeffe executive chairman Massimo Ferretti said in a statement.