Valentino H1 led by women's segment & accessories sales
01 Aug '06
2 min read
The Board of Directors of Valentino Fashion Group S.p.A. examined the preliminary consolidated results at 30 June 2006.
- Net Revenues: €926 million (+14 percent vs 2005 pro-forma: €814 million)
- Operating income: €94 million (up +19 percent vs 2005 pro-forma: €79 million)
- Net income: €61 million (+31 percent vs 2005 pro-forma: €46 million)
Consolidated net turnover amounted to €926 million, up 14 percent (+13 percent at constant exchange rates) compared to the first half 2005 as the growth trend recorded in the first quarter of 2006 continued.
The Group increased market share in Europe (+13 percent), and accelerated growth in the major non-European markets (USA 20 percent), continuing its success with its brand extension strategy, led by the women's segment (+35 percent) and accessories (+43 percent).
Turnover at directly operated stores increased 32 percent (9 percent on constant floor space), accounting for 15 percent of the total sales.
Margin on ordinary operations +23 percent, driving the increase in operating income to €94 million, up 19 percent from €79 million in the same period in 2005.
Income before taxes in the first half 2006 amounted to €89 million, a 25 percent increase from €71 million in the same period in 2005.
Consolidated net income amounted to €61 million, a 31 percent increase from €46 million in the year-before period.
Group net income, net of minority interest, amountedto €35 million, a 47 percent increase from €24 million in 1H05.
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