The Board of Directors of sportswear company BasicNet, which met at the end of the shareholders' meeting, approved the quarterly report at March 31st 2006.
Combined brand sales by licensees worldwide amounted to €64.1 million in the first quarter of the year compared to €57.9 million in the first quarter of 2005. A total increase of 10.7 percent which can be attributed to the especially positive results achieved on markets in Asia (+44.9 percent) and the Americas (34.8 percent).
Direct sales totaled €23 million compared to €19.4 million in the first quarter of 2005, showing an 18.4 percent increase. In fact, the Italian market, directly managed by BasicNet Group, showed an extremely positive trend with more than a 16 percent increase in sales being recorded at the end of March.
The increase in overall combined turnover had a positive effect on royalties and sourcing commissions which increased by 9.8 percent, going from €4.7 million to €5.1 million.
The negative trend of the US dollar and the general increase in costs kept the quarter's gross operating margin (EBITDA), equal to €3.43 million, in line with that of the same period of 2005. While there was a 2.4 percent increase in operating income (EBIT) which amounted to €2.22 million compared to €2.17 million in the first quarter of 2005.
The pre-tax result (EBT) amounted to €1.45 million, up 16.3 percent on the first quarter of 2005. The net profit at March 31st 2006 totaled €0.75 million (+35.3 percent).
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
