Pretax Income increased by 72 percent to €27.9 million for the year (Pretax margin of 5.8 percent), from €16.2 million of 2004. Net income increased by 186.3 percent to €22.3 million for the year from €7.8 million of 2004.
The Group net income rose 198.5 percent to €19.1 million from €6.4 million of 2004, as a function of the Group's strategy of reducing minority interest.
On February 24th 2006, the Group, via its subsidiary Antichi Pellettieri, acquired 51 percent control of Coccinelle SpA, a leading Italian handbag and accessories company focusing on the accessible luxury segment of the market.
On February 28th 2006, MBFG sold a 3.3 percent equity interest in Antichi Pellettieri to Itochu Corporation for €10 million. The operation solidifies the long standing relationship between MBFG and Itochu and provides MBFG a partner with unparalleled expertise and distribution capabilities in Japan and in other countries in the Far East.
The Board of Directors of Mariella Burani Fashion Group proposed the distribution of an ordinary dividend of €0.13 per share to be paid on May 22nd 2006 (ex-coupon on May 25th 2006). The proposal will be submitted for shareholder approval at the Shareholders' meeting scheduled for April 27th 2006.
Mariella Burani SPA - The Group's principal activities are the design, production and distribution of luxury ladieswears, knitwear andleather accessories such as handbags and shoes. It sells its products under its own trademark, Mariella Burani and under license for international fashion companies such as Calvin Klein and Vivienne Westwood.
Mariella Burani Fashion Group
marketing@alchempro.com
