INDO reports 5.5 percent higher revenues of €38.48 million for the 1st quarter of this year, but excluding a change in accounting, sales were actually up by only 1 percent. Sales outside Spain grew from 26 to 29 percent of the total turnover, as compared to one year ago. Sales of frames and sunglasses grew by 16.4 percent, driven by the launch of a Massimo Dutti line and by continued progress for the Carolina Herrera and 212 collections. Instruments were up, too, but sales of lenses declined because some important Spanish retail chains postponed their annual promotions from the 1st to the 2nd quarter. Net profit declined to €482,000 from €684,000, due in part to extra charges of about €200,000 related to the move of INDO's head office to Sant Cugar del Vallès.