MILAN — While seeing an acceleration in the last quarter, global growth and the consolidation of the newly acquired Polaroid Eyewear business, yet hurt by the phasing out of the Giorgio Armani group's licenses, Safilo Group SpA in 2012 posted a 7.2 percent drop in net profit to 25.9 million euros, or $ 33.1 million, from 27.9 million euros, or $38.8 million in the previous year.
In the 12 months ended Dec. 31, sales grew 6.7 percent to 1.17 billion euros, or $1.5 billion.Safilo chief executive officer Roberto Vedovotto said that, as it tackled a challenging economy, the firm's "strategic priority was to focus on the top-line growth" of its portfolio and "on profitability, as well as to maintain a solid capital structure, despite the expected Armani phase-out negative effect."
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