MILAN May 6 Italy's Moleskine, this
year's first major stock listing in crisis-hit Italy, said sales
rose over 15 percent in the first quarter, helped by
international retail expansion.
The maker of paper notebooks based on originals used by
Ernest Hemingway and Bruce Chatwin on Tuesday said net profit
rose 20.5 percent to 3.2 million euros ($4 million) in the first
three months of the year.
Shares in Moleskine have lost ground since their stock
market debut at a price of 2.3 euros on April 3, with analysts
citing concerns about valuation and growth strategy.
Moleskine shares closed down 0.5 percent at 2.0 euros on
Tuesday, before the results were released.
($1 = 0.7642 euros)
(Reporting by Antonella Ciancio)