August 26, 2009 / 11:29 AM / in 10 years

UPDATE 1-Tod's H1 net up, says H2 could give good results

* Net profit up 3.1 pct

* Says second half could give good results

* Shares up more than 3 pct

(Adds details, quote, shares)

MILAN, Aug 26 (Reuters) - Italian luxury shoe and bag maker Tod’s (TOD.MI) turned in a 3.1 percent rise in first-half net profit on higher revenues and said on Wednesday the second half of the year could give “good results”.

Tod’s, famed for its soft loafers and bags, said in a statement net profit was 41.9 million euros ($60 million).

Revenues rose 3.4 percent to 359 million euros, boosted by demand for its shoes. The company had published first-half sales figures in July.

“In the light of the signals in our shops in the last few weeks, I believe the second half of the year could also give us good results,” Chairman and Chief Executive Diego Della Valle said.

Shares rose 3.57 percent to 42.88 euros at 1105 GMT.

French fashion-to-handbags group Hermes International (HRMS.PA) posts results on Friday. It has weathered the downturn better than many of its peers partly due to the strength of its brand, seen by consumers as a safer investment then younger, more fickle luxury names. [ID:nLP173538] ($1=.6983 Euro) (Editing by Jon Loades-Carter)

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