Safilo ended the 3rd quarter of 2000 with turnover up 21.5% to 280.8 billion lire (e145m-$120.2m), contributing to a still impressive 30.4 percent growth in the group's turnover in the first 9 months, which now stand at 961.7 billion lire (e496.7m-$411.8m). The net profit has increased by 32 percent in the 9-month period, reaching 67.3 billion lire (e34.8m-$28.8m), or 7 percent of sales.
Announced earlier today, simultaneously with those of Luxottica, Safilo's results indicate that the net margin for the first 9 months of this year is slightly below the 7.43 percent level that the group had achieved in the 1st half of this year. The operating profit is up 29.7 percent for the quarter and 45.8 percent for the 9-month period, reaching 142.7 billion lire (e73.7m-$61.1m), or 14.8 percent of sales.
Sales have increased in Europe, North America and the Far East, reflecting in part a stronger direct presence in certain markets. Orders have exceed previous expectations, forcing the group to raise production levels. Between July and September, Safilo finally succeeded in getting its new distribution center near Padua up and running, thus completing the logistical reorganization it had begun last year.