Benetton posts marginal rise in sales in first nine months of 2011
15 Nov '11
4 min read
As a result, operating profit (EBIT) was €115 million, down compared with €141 million in the corresponding period of 2010, with a percentage to revenues of 7.8%, compared with the previous 9.4%.
Financial management produced some improvements, above all due to the reduction in average indebtedness and in spite of the increase in interest rates. Overall, financial expenses moved from €15 million in the first nine months of 2010 to €14 million in 2011. However, the usual exchange rate hedging operations contributed negatively to the result (-€11 million compared with an income of €13 million in 2010).
The effective tax rate was 34% in the 2011 nine months, down as expected compared with the same period of 2010 (41%).
Finally, net income was €60 million (4.1% of revenues), compared with €85 million (5.7%) for the first nine months of 2010.
marketing@alchempro.com
