News

European slowdown hits Safilo's profits

Manufacturing
A fall in Safilo's first half results are attributed among other factors to a slowdown of the European market.

SafiloThe UK and Spain are the countries most severely affected by the slowdown of the international eyewear market according to Safilo's chief executive officer, Massimilano Tabacchi.

The statement was given by Tabacchi to financial analysts during a conference call detailing the company's first half financial performance for 2008, as one of several reasons for results that were described as 'extremely disappointing'.

Speaking specifically about the company's UK performance, Safilo UK's sales director Marco Patalano commented: 'As far as the UK market is concerned there has certainly been a general slowdown (particularly on sunglasses) but we are performing in line with our budget and the comparison with the year before is quite difficult due to some extraordinary one-off invoicing put through in the first half of the previous year.'

Register now to continue reading

Thank you for visiting Optician Online. Register now to access up to 10 news and opinion articles a month.

Register

Already have an account? Sign in here