Safilo Grows, But Taxes Eat Up Profit
Safilo posted significantly improved turnover and margins for the 1st half of 2004. The group's operating profit (Ebit) grew by 34.5 percent to €16.8 million, equivalent to 3.2 percent of turnover, but deferred taxes contributed to a hefty €16.3 million tax bill, leading to a first-half loss of €1.6 million ...
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