Burani to achieve double digit growth in 2008

26 May '08

3 min read

Burani Designer Holding N.V. a company offering Italian lifestyle products and services to customers world-wide, announces its results for the year ended 31 December 2007, reflecting a 10.6% increase in 2007 revenues, and a 17.9% increase in revenues net of extraordinary items.

The consolidated financial statements include the pro rata contribution from the companies acquired during 2007, namely Arcte, Crisfer, Eurocosmesi (from April 2007) and Granulati (from October 2007).

The results also reflect the consolidation within Mariella Burani Fashion Group of Valente, Rosato, Calgaro (Fashion jewellery) and Dadorosa (Leather Goods), the deconsolidation of the multi-brand retail division as of June, 2007.

Extraordinary items include the capital gain on the IPO of AP in 2006 and the capital gain on the disposal of the multi-brand retail division in 2007.

Highlights:
• Successful listing on London's AIM market in June 2007 raising €130m (of which €94m proceeds due to the Company); proceeds used to finance the expansion of the BDH Group through selective acquisitions;
• Expansion of the fashion jewellery business within Mariella Burani Fashion Group through the acquisitions of three successful Italian companies: Rosato, Valente and Calgaro;
• Strategic entry into the beachwear and underwear business, identified as an attractive target segment of the accessible luxury goods market, through the acquisitions of Crisfer and Arcte;
• Extension into complementary wellness and skincare through the acquisition of Eurocosmesi;

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