MILAN — Bulgari’s first-half net profit plunged 53.2 percent as it trimmed full-year targets and warned there won’t be a significant recovery in business until next year.

Against the backdrop of a marked decline in tourism and weak sales at third-party retailers, net profit for the six months ended June 30 fell to $22.2 million from $47.3 million the year before. Sales contracted 5.7 percent to $332.2 million from $352.4 million the year earlier. Earnings before interest and taxes dropped slightly less, to $32.4 million from $60.6 million.

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