Marcolin Group's pre-tax profit rose to €6.2 million during the first six months of 2004, as compared to the break-even results posted for the same period last year, while turnover rose by 15.5 percent to €97.6 million. As previously reported, the Italian group's sales would have risen by 18 percent during the period if exchange rates had remained the same.
Earnings before interest, taxes, depreciation, and amortization represented around 13 percent of turnover, up from 9 percent a year ago, accounting for €12.9 million. Earnings before interest and tax represented around 9 percent of turnover, up from 4 percent, accounting for €8.4 million.
Domestic sales rose by 22.5 percent, while the rest of the European market was up 15.8 percent. The strongest performing subsidiaries were France, up 42 percent; Spain, up 20 percent; and Germany, up 17 percent. Sales in the USA increased by 7.4 percent and were approximately 19 percent higher at constant exchange rates, partly due to the positive effects of the restructuring plan launched during the 2003 financial year.
The best performing lines were Dolce & Gabbana Eyewear, up by 33 percent; D&G Dolce & Gabbana Eyewear, up 15 percent; Roberto Cavalli Eyewear, up 64 percent; and, for the US subsidiary, the Kenneth Cole line, which went on sale at US department stores at the end of 2003.