Record year for Safilo

The Safilo Group has reported a 10-fold increase in profit at €37.5m for the financial year 2006 over 2005.

The Group's consolidated turnover at €1,122m was up 9.4 per cent and was highest in Safilo's history, with results up 15.2 per cent in Italy and 9.2 per cent in the US.

Safilo said that the increase in profitability was due to excellent sales results and the first effects of industrial reorganisation that compensated for costs from the termination of a licence agreement.

The acquisition of Spanish retail chain Loop Vision and the development of US chain Solstice had contributed to the improved financial position.