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Mariella Burani's leather goods posts 35% revenue growth in Q1

08 May '06

4 min read

The Board of Directors of Antichi Pellettieri (AP) approved the financial results for the Q1 ended March 31st 2006 which reflected on an organic basis: 34.6 percent revenue growth, 142.5 percent Ebitda growth and 195 percent growth in pretax income.

The Board of Directors of Antichi Pellettieri (AP) also approved the AP 'proforma' consolidated financial results for the Q1 ended March 31st 2006 that include the newly acquired Coccinelle and reflected total growth as follows: 84.4 percent revenue growth, 262.5 percent Ebitda growth and 333.7 percent growth in pretax income.

Consolidated revenues of AP increased by 34.6 percent to €56.5 million on an organic basis (€77,4 million, +84.4 percent on a pro- forma basis) from the €41.9 million generated in Q1 2005, driven by the group's principal leather goods handbag and accessory brands Braccialini and Francesco Biasia, and its luxury footwear brand, Baldinini.

Braccialini generated 27.8 percent and of AP consolidated revenues during the period, reflecting 68.7 percent growth for the quarter.

The vibrant growth is primarily driven by demand from foreign markets, particularly the Middle East, the Far East, and Russia benefiting from new store openings as well as increased ad spend in the regions, Francesco Biasia generated 30.5 percent of AP consolidated revenues during the period, reflecting 37.1 percent growth for the quarter, Baldinini, generated 24.6 percent of AP consolidated revenues during the period, with 34.9 percent growth during the quarter reflecting the brands continued momentum in Russia and Eastern Europe, also driven by new product introductions (casual footwear lines).

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