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Ferragamo sees significant growth in 2012
August 29, 2012 / 3:55 PM / 5 years ago

Ferragamo sees significant growth in 2012

MILAN, Aug 29 (Reuters) - Up-market Italian shoemaker Salvatore Ferragamo said it saw “significant” growth in 2012 after posting first-half net profits up 22.5 percent on Wednesday, confirming the strength of global luxury players through financial turmoil in Europe.

The maker of shoes worn by Hollywood stars such as Angelina Jolie and pop queen Lady Gaga said net profit rose to 55.9 million euros in the period, including minority interest profit for 11.1 million euros. Pre-tax profit rose 37.7 percent to 88.3 million euros.

Analysts had expected Ferragamo to report continued growth in the second quarter, driven by travellers shopping in Europe and the group’s wide retail presence in China.

Sales in the period rose nearly 23 percent to 565.1 million euros. (Reporting by Antonella Ciancio)

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