First quarter results for 2012 have shown stable sales, but a decline in profitability, said eyewear maker Marcolin.
European sales were down 15.8 per cent, which the company said was due to persistent economic difficulties in Italy and southern European countries. Sales in the US market have increased by 20.9 per cent, but the greatest increases were in Asia, where sales have grown by 32.3 per cent. Net profit was down to €7.3m from €7.9m in the first quarter of 2011.
Giovanni Zoppas, CEO and general manager of Marcolin said: 'The results are on par with our expectations. We are very satisfied with the sales performance in the group's strategic areas of the Far East and America, where our fashion and luxury brands have high potential.'