MILAN May 9 Freshly-listed Italian cashmere
maker Brunello Cucinelli said on Wednesday core
earnings rose nearly 28 percent in the first quarter to 13
million euros supported by a 17 percent increase in revenues.
Cucinelli said sales were particularly buoyant in North
America and mentioned positive expectations for the rest of the
Net profit advanced 36 percent to 7 million euros, it said
in a statement.
The luxury house famous for its pastel-coloured cashmere
sweaters listed its shares on the Milan's stock exchange at the
end of April. The stock, which was 1 percent lower by 1326 GMT
outperforming a 2 percent fall in Italy's all-share stock index
, has gained about 40 percent since its debut.
Cucinelli said its results did not include a capital gain it
reaped from selling the rent contract for its shop on Via della
Spiga, an exclusive Milanese shopping street.
Net debt rose in the quarter to nearly 58 million euros from
around 48 billion euros at end-December.
(Reporting by Valentina Za)