Stefanel's Interfashion unit sales up 11.2% in H1

23 Aug '05

7 min read

The Interfashion Business Unit is, on the one hand, continuing a process of raising its share in its main markets and, on the other, further improving the level of service it provides to MFG customers (in terms of shipping methods and times) And lastly, it is continuing to develop the Hallhuber network and brand, which now also has ten or so Shops in Shops with some of Germany's most important distribution chains.

The following results were achieved during the first half of 2005 ; overall they are considered positive and in line with budget:

- an 11.7% increase in consolidated net sales; The Stefanel brand saw its sales increase by 7.4 %, Interfashion by 11.2 % and Hallhuber by all of 25.4%.

- This positive trend in revenues has driven an important improvement in consolidated profitability with EBITDA reaching 14.1 million, + 64%, and EBIT coming in at 8.7 mn, + 172%. It is important to emphasize that all three business units have already made a profit at the end of the first half. Holding company costs are stable at Euro 1.2 million.

- the result from equity investments, which because of the consolidation at equity now reflects mainly the performance of the Nuance Group, is a loss of Euro 4.2 million, though this is an improvement of Euro 1.3 million (+23.6%);

- the result before tax and minority interests is positive for Euro 1.3 million, which is an improvement of Euro 7.0 million thanks to the better operating results andthe positive trend in financial charges;

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