Aeffe Group H1 profits rise 1.4 percent

Aeffe, the Italian luxury group based in San Giovanni in

Marignano, having brands like Alberta Ferretti, Moschino, Pollini and JP Gaultier in its portfolio, reported a jump of 1.4 percent profit in the first half of 2012. Its consolidated revenue was 149.15 million dollars (Rs 826 crores) compared to 147.16 million US dollars (Rs 815 crores) in the first half of 2011.

Ebitda was reported as 8.71 million dollars (Rs 48 crores), that is, 63 per cent more compared to 5.40 million dollars (Rs 29 crores) in the first half of last year. With an improvement of 1.23 million dollars (Rs 6 crores), loss before tax was 4.42 million dollars (Rs 24 crores), compared to 5.64 million dollars (Rs 31 crore) in the first half of 2011. Net loss for the group was 5.27 million dollars (Rs 29 crores), compared to a net loss of 6.26 million dollars (Rs 34 crores) for the same period in 2011.

Massimo Ferretti, Executive Chairman of Aeffe Spa, has commented: “The results achieved by our group in the first semester of 2012 continue to show a significant recovery in operating profitability, which increased more than proportionally to the trend of revenues. In the current difficult economic conditions, the group remains also strongly focused on growth through geographic diversification; in fact, by the end of the year, it is scheduled to open around twenty new franchised stores, of which more than half are in Asia.”