Luxury brands deliver profit

Safilo Group's board of directors has announced a net profit of €51m as part of the company's preliminary results for the financial year 2007, an increase of 36.2 per cent compared to 2006.

The figures were attributed among other things to the significant contribution of new licences and came despite an unfavourable US dollar exchange rate.

Group chairman Vittorio Tabacchi confirmed Safilo's commitment to the creation of a direct distribution presence, citing the development of the Solstice (USA) and Loop Vision (Spain) chains as well as the recent acquisitions of Sunglass Island (Mexico) and Just Spectacles (Australia).

Tabacchi forecast moderate growth this year in Europe and high growth for Safilo's Asian markets.