Ponzano based clothing manufacturer The Benetton Group approved the consolidated results for the first nine months of 2005, prepared in accordance with International Financial Reporting Standards (IFRS).
Revenues for the nine months of 2005 were 1,288 million euro, up 2.8 percent, compared with 1,253 million in the corresponding period of 2004. Revenues for the quarter were 446 million euro, up 13.7 percent compared with the third quarter of 2004. Revenue performance benefited from the good reception by the market of products in the new collections, especially the 2005 fall/winter collection, as well as from increased revenues in the directly owned stores.
The contribution margin was 468 million euro (36.3 percent of revenues) substantially in line with the 472 million of the first nine months of 2004, influenced in particular by the further actions undertaken for the development of the network adopted with the 2005 fall/winter collection and, in part, offset by the high production efficiencies achieved.
In the third quarter, the contribution margin increased to 160 million euro (up 4.8 percent) compared with 152 million in the corresponding quarter of 2004 due to the increased volumes of reorders in the period. EBIT was 10.7 percent of revenues (138 million euro) against 12.1 percent in the first nine months of 2004 (152 million euro).
In the third quarter EBIT was 9.6 percent of revenues (43 million euro) compared to 12.7 percent in the same period of the previous year. Net income for the period was 89 million euro and 6.9 percent of revenues,
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