MILAN — Benetton Group SpA on Thursday forecast a higher-than-expected net profit of 120 million euros, or $166.8 million, for 2009. The Italian clothing company said the growth was achieved through a strategy aimed at “improving cash generation, offsetting nonrecurring charges and the expected increase in taxes with a steep reduction in financial expenses.”
Consolidated revenues for last year saw a 3.6 percent drop to 2.05 billion euros, or $2.85 billion, compared to 2.12 billion euros, or $3.12 billion, in 2008, hit by sluggish sales in Europe, which were counterbalanced by a growth in emerging markets, India and China in particular.
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