Salvatore Ferragamo reports 7 percent revenue growth during first nine months

Salvatore Ferragamo SPA published its consolidate interim report for the nine months to September 30, 2015 which saw a 7 percent increase in revenue from 957 million euros in 2014 to to 1,021 million euros this year.

Gross operating profit (EBITDA) also increased 7 percent compared to the same period last year, reaching 218 million euros. Operating profit grew 3 percent from 169 million euros to September 30, 2014 to 174 million euros. Group net profit increased 3 percent to 112 million euro. During the Group's Q3, total reported revenue, including current exchange rates, were stable in comparison to Q3 2014 at 298 million euros and down 1 percent at constant exchange rates. Profit before taxes in the same period held stable at 164 million euros.

The Asia Pacific area continues to be the Group's top market in terms of revenues and increased by 2 percent in comparison to 2014. In particular the retail channel in China reported a revenue growth of 10 percent during the first nine months of 2015. Europe also reported an increase of revenues of 7 percent, (5 percent at constant exchange rates) compared to the same period in 2014. The retail channel of the group confirmed its double-digit growth, in spite of the clo sure of Salvatore Ferragamo's two stores in Rome's Leonardo Da Vinci airport.

North America recorded a revenue increase of 10 percent, driven by the reopening of the brand's Beverly Hills flagship store in Rodeo Drive featuring a new design concept.The Japanese market saw a 13 percent growth, which further accelerated during Q3 2015, thanks to the significant travel flow from China. Revenues in Central and South America during the first nine months of 2015 continued the double digit growth, posting an increase of 16 percent.

Salvatore Ferragamo retail distribution channel posted consolidated revenue growth of 7 percent, with a 2 percent decreased in performance at constant exchange rates and like-for-like in comparison to the same period in 2014. The wholesale channel also managed to register an increase in spite of ongoing political tensions in Eastern Europe and Greece, thanks to the good performance of its Travel Retail channel. Amongst the group's product categories, handbags and leather accessories posted a growth above 11 percent during the first nine months of 2015.