ITTIERRE PROFITS UP 6.4 PERCENT
MILAN — Ittierre reported a 6.4 percent rise in first-half profits to $17.5 million (30.3 billion lire).
The profit gain was achieved on a sales rise of 18 percent to $184.9 million (319.5 billion lire) in the six months.
Ittierre, which manufactures and distributes jeans and young lines for Gianni Versace, Dolce & Gabbana and Gianfranco Ferre, plans to make an initial public offering on the Milan bourse in November. The firm said 33.4 percent of its sales came from Italy and 66.6 percent came from foreign markets. In the first half, the firm noted, sales rose 42.6 percent in the U.S.