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Bulgari reports strong growth in financial results of Q1 2007

21 May '07

3 min read

The Board of Directors of Bulgari S.p.A. approved the consolidated financial statements for the Bulgari Group's first quarter 2007, which highlight a turnover of 225.1 million Euro increased by 16.4% at comparable exchange rates (+10.4% at current exchange rates) in comparison to the same period of last year. Operating profit and net profit increased by 20.4% and 31.5% respectively in comparison to the same period of 2006.

All the variations reported below are expressed at comparable exchange rates unless noted otherwise.

Revenues by product categories:
The period January - March 2007 registered, once again, a particularly brilliant performance (+24.2% compared to the first quarter 2006) of jewellery – core business of the Company – also thanks to the growth registered by the high jewellery segment.

The watch segment, whose 8.6% increase in the quarter must be compared to an high base (+13.2%) in the same quarter of last year, testified once again its potentialities, underlined by the double-digit sales performance registered in the directly owned stores.

The expectations in this sector for the months to come are very promising, thanks to the great success of all the new products presented at the latest Basel Fair and, in particular, of the new collection of precious watches Assioma D. Perfumes sales – 43 million Euro in the quarter with a 32.0% increase – further confirmed the great success of this product category, thanks to the outstanding performance of Bulgari pour Femme, re-launched last year, and to the excellent results of all the other fragrances.

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