A significant increase in revenues in Italy (+14.8 percent), in the Far East and Japan (+10.3 percent) and in the rest of the world (+10.3 percent) contributed to the overall increase in reveneus; in terms of operating divisions, the first quarter 2006 showed accessories revenues increased significantly (+57.7 percent) thanks to the development of sales through the specialized accessories store channel and to the development of the +IT store franchisee network which today counts 15 stores of which 9 opened in the first quarter 2006.
Particularly significant, compared to the first quarter 2005, is the growth in profit margins which confirms the validity of the strategy adopted by the Group since 2004 to focus on developing and adding value to the Ferré and Malo brands, as well as to strengthen the Group's leadership in the young lines market segment.
During the quarter under review, compared to the corresponding quarter of the previous year, EBITDA as a percentage of revenues increased from 18.5 to 20.2 percent, primarily due to the accessories division whose EBITDA as a percentage of revenues increased from 23.1 to 28.7 percent. Operating result and income before tax as a percentage of revenues increased respectively from 6.8 to 10.0 percent and from 2.1 to 5.6 percent.
The first quarter 2006 also sees the Group returning to profitability recording net income of €5.0 million compared to a net loss of €2.4 million recorded in the corresponding quarter of the previous year.
marketing@alchempro.com
