The Board of Directors of Valentino Fashion Group S.p.A., which has met, has approved the Report on the first quarter of 2007.
Net consolidated sales in the first quarter of 2007 totaled 637.7 million euro, up by 8.4% (+11% at constant exchange rates) compared to the first quarter of 2006 (588.5 million euro).
Growth in the period was the result of a positive performance by Hugo Boss and Marlboro Classics.
Pre-tax result at 31 March 2007 was 113.9 million euro, up by 12.1% (2006: 101.6 million euro). Consolidated net income, including minority interest, totaled 83.2 million euro, up by 17.0% (2006: 71.1 million euro).
Net income attributable to the Parent Company's Shareholders totaled 48.6 million euro, up by 17.1% (2006: 41.5 million euro). Group net financial debt at 31 March 2007 was 344.7 million euro, compared to 310.1 million at 31 March 2006 and 340.9 million at 31 December 2006.
Outlook for the Current Year:
The trend in the first few months of 2007, the size of the autumn/winter order book and the growth in direct retail enable a prediction for the current year of a rising trend in sales of between 8 and 10% at constant exchange rates; operating and pre-tax income are expected to improve at a more than proportional rate to turnover growth.
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Valentino Fashion Group S.p.A.
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