By  on November 8, 2018

MILAN — Driven by a spike in the Far East, Aeffe SpA reported a 35.1 percent increase in profits in the first nine months of the year. In the period ended Sept. 30, earnings climbed to 16.1 million euros, compared with 11.9 million euros in the same period last year.

Massimo Ferretti, executive chairman of the Italian fashion group, said the performance confirmed “a path of solid and continuous development, thanks to the creation of high quality and distinctive collections.” He admitted the scenario was “challenging also at the macroeconomic level,” but expressed his confidence about the rest of the year. “We expect an increase in sales and a more than proportional growth in profitability for the full 2018. Moreover, the orders’ backlog of the spring 2019 season, which posted a 6 percent increase, contributes to a positive sentiment on the growth over the mid-long term.”

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