MILAN — Tod’s Group posted a 30.5 percent profit gain in the first quarter as strong growth in its footwear and leather goods divisions bolstered results.
Earnings rose to 19.4 million euros, or $23.3 million, in the quarter on a sales gain of 14.8 percent to 161.4 million euros, or $193.7 million. Dollar figures are at the average exchange rate.
Diego Della Valle, Tod’s chairman and chief executive officer, said in a statement that results confirmed “the soundness” of the group’s growth, and that they were a “ clear sign of the effectiveness of [the group’s] strategy and of the strong growth potential for the next years.”
Della Valle said he was “very satisfied with the orders backlog for the fall-winter collections.” The executive echoed the upbeat forecasts made earlier this year. “Therefore, I can confirm our expectations to achieve in 2006 a significant growth of revenues and a more than proportional increase in profitability,” he said.
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