Income before taxes amounted to €89.4 million in 2006 first half, up by 25.4 percent (first half of 2005: €71.3 million).
Income before taxes amounted to €89.4 million in 2006 first half, up by 25.4 percent (first half of 2005: €71.3 million).
Consolidated net income, including income attributable to minority shareholders, was €60.7 million, increased by 31.1 percent (2005 first half: €46.3 million).
Net income attributable to the Parent Company's shareholders was €35.0 million, up by 47.1 percent (2005 first half: €23.8 million).
Group staff amounted to 10.256 persons at 30 June 2006, up from 9.290 at 30 June 2005. The increase was mainly due to the development of direct retail as well as to the expansion of in-house production capacity and logistics.
Investment grew to €54.1 million in the period (€37.0 million in 2005 first half), and was mainly allocated to developing direct retail and implementing the IT platform for the integrated management of the supply chain.
Group's net financial debt was €407.3 million at 30 June 2006, down from €425.4 million at 30 June 2005. The increase from € 333.5 million at 31 December 2005 was mainly due to the dividend payout in the year's first half.
Group shareholders' equity, including minority interests, amounted to €589.0 million at 30 June 2006 (€524.8 million at 30 June 2005).
Based on the first half performance, the orders' backlog, and the expected increase indirect retail, we project another year of sustained double-digit revenue growth for the whole 2006.
APPOINTMENTS AT VALENTINO S.P.A.
The Board of Directors of the subsidiary company Valentino S.p.A., which met at the end of the Parent Company's Board meeting, accepted the resignation of Mr Antonio Favrin from his position as Chairman and appointed Mr Matteo Marzotto as new Chairman.
Mr Antonio Favrin has been appointed Chief Executive Officer, to replace Mr Michele Norsa, who will leave the Group at the end of September.
-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)")
