Marcolin saw a small decrease in net profits at constant exchange rates for the first quarter of 2009, to €4.2m, compared to a profit of €4.8m during the same period in 2008.
The period saw a fall of 6.5 per cent in the Italian frame manufacturer's revenue to €52.3m from €56m during the same period in 2008.
The reduction in margin was attributed to more aggressive sales polices such as discounts as a result of market demands. The company also noted that it has not yet benefited from the sales revenue from the new Tod's and Hogan lines which will be delivered from the fourth quarter of 2009. The 2008 first quarter results also included the sales of the residual stock of Cébé helmets and masks, which were not included in the results for 2009.
Massimo Saracchi, Marcolin's managing director, said of the results: 'Despite the difficult economic situation, Marcolin Group preformed well, confirming the positive results achieved in 2008. Profit for the first quarter of 2009 is extremely positive and in spite of the continuing uncertainty in world markets, which make short-term forecasts more risky, the company strongly believes in the strength of the brands in its existing portfolio and those which will soon be launched, and remains confident of positive results in 2009.'