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Turkish, Eastern Europe, China & India markets pep Benetton's apparel revenues

14 Sep '06

3 min read

EBIT was 89 million euro compared with 95 million euro in the first half of 2005 and 9.9 percent of revenues compared with 11.2 percent in the comparative half year, with the percentage of general and operating expenses remaining almost unchanged.

Net income attributable to the Parent Company was 64 million euro, equivalent to 7.1 percent of revenues, compared with 63 million euro in the first half of 2005 (7.4 percent of revenues).

Group Shareholders' equity at June 30, 2006, amounted to 1,261 million euro (1,262 million at December 31, 2005).

The net financial position was 292 million euro, against 475 million euro at June 30, 2005 (and 351 million at December 31, 2005), due to improved working capital management resulting from the commercial policies adopted and in spite of higher operating investments.

The results for the first half of the year allow the following forecast for 2006: an increase in revenues of around 8 percent, EBIT in the region of 10 percent of consolidated revenues and net income of around 6.5 percent-7.0 percent.

Contextually to the Group Half Year Report, the Board of Directors also approved that of Benetton Group S.p.A., prepared for the first time in conformity with IFRS, and which includes, in an attachment with related explanatory notes, the reconciliations required by paragraphs 39 and 40 of the international accounting standard IFRS 1 "First-time adoption of International Financial Reporting Standards".

Benetton Group S.p.A.

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