By  on June 4, 2009

Ermenegildo Zegna Group said profits declined in 2008 although international expansion delivered higher revenue.

Including extraordinary items, net profit fell 10.6 percent to 62.3 million euros, or $91.7 million. Revenues rose 3.2 percent to 870.6 million euros, or $1.28 billion, as emerging markets offset softening sales in the U.S. and Japan. Dollar figures have been converted from the euro at average exchange rates for 2008.

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