Italian clothing company IT Holding SpA preliminary results show that consolidated net revenues are positive and confirm the growth trend registered by the sector on the international markets.
In particular, net consolidated revenues, on a like-for-like basis increased by 3.5 percent with respect to 2004 and amounted to €676 million. Significant increases were registered in the Far East (+37.2 percent), the Middle East (+26.5 percent) and in Eastern Europe (+16.5 percent) thereby showing the attention the group is paying to these emerging markets.
During the year 2005 the group generated positive free cash flow of €16 million.
In 2005 the group further strengthened its position in the production and distribution of apparel and accessories for the luxury goods market as shown by the recent debut of the Malo collections at the New York fashion shows and the recent agreement between Ittierre SpA (the group's young lines division) and Les Jardins d'Avron SA to produce a young line designed by John Galliano.
IT Holding SpA is one of the leading players in the luxury goods sector, and controls a group of companies that design, produce and distribute high-quality products (ready-to-wear and accessories, eyewear and perfumes) under owned brands - Ferré, Malo, Extè - as well as under license agreements - D&G, Versus, Versace Jeans Couture, Just Cavalli, C'N'C Costume National.
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