By  on September 8, 2009

MILAN — The international financial crisis and heavy investment hurt Giorgio Armani SpA’s bottom line in 2008, and it is expected to see a further decline this year.

The company reported a 41.4 percent drop in net profits last year, to 128.1 million euros, or $188.3 million, from 218.7 million euros, or $299.6 million, the previous year. Consolidated revenues in 2008 rose 1.5 percent to 1.62 billion euros, or $2.38 billion. At constant exchange, the sales increase stood at 2.4 percent.

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