Salvatore Ferragamo Profits Up 2.3 Percent in First Half

Growth in the Americas and Japan helped offset a slowdown in Asia Pacific and Europe at Salvatore Ferragamo SpA, which posted a 2.3 percent gain in net profit in the first half of the year. In the six months ended June 30, earnings reached 90 million euros, or $100.8 million, compared with 88 million euros, or $103 million, during the same period last year.

Revenues were down 1.7 percent, to 710 million euros, or $795.2 million, compared with 722 million euros, or $844.7 million, last year.

Operating profit was flat, totaling 135.5 million euros, or $151.7 million.

Earnings before interest, taxes, depreciation and amortization inched up 0.9 percent, to 166 million euros, or $186 million.

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