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Eyewear maker De Rigo reports sales fall in H1

Jul '05
Fashion frames and sunglasses manufactures and exporter De Rigo S.p.A. posted net sales of EUR 267.5 m for the first six months of 2005, a decrease of 3.0% as compared with the same period last year.

Highlights of the Group's unaudited sales results for the first six months of 2005 include:

Consolidated net sales were EUR 267.5 m, as compared with EUR 275.9 m posted in the first six months of 2004. Foreign currency effects had a negative impact of 1.2% on net sales.

Wholesale & manufacturing sales amounted to EUR 79.4 m, a decrease of 4.1% from EUR 82.8 m posted in the first six months of 2004. Foreign currency effects had a negative impact of 0.4% on wholesale & manufacturing sales.

Sales through the retail companies amounted to EUR 195.0 m, a decrease of 1.9% from EUR 198.7 m posted in the first six months of 2004. Foreign currency effects had a negative impact of 1.6% on retail sales.

In this release, De Rigo is reporting net sales on a consolidated basis, as well as sales for each of its two principal business segments.

Consolidated net sales
The Group's consolidated net sales of EUR 267.5 m were broken down as follows:

Eyewear sales of EUR 122.6 m, lens sales of EUR 80.0 m, contact lens sales of EUR 39.6 m and other sales and revenues of EUR 25.3 m, as compared with sales of EUR 129.3 m, EUR 82.8 m, EUR 38.3 m and EUR 25.5 m, respectively, for the first six months of 2004.

Foreign currency translation differences had a negative effect on consolidated net sales, particularly with regard to the translation into Euro of sales made in Pounds Sterling, Japanese Yen and Hong Kong Dollars, as the average exchange rate for these currencies in the first six months of 2005 was less favourable to the Group than that during the first six months of 2004.

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