Safilo cautious over recovery

Safilo has reported a €3.3m loss in the first half of 2010 compared with a loss of €136m for the same period in 2009, with Europe remaining the weakest region as sales fell 3.2 per cent.

The group had net sales of €580.3m in the first half, a rise of 3.2 per cent over the €562.1m for the first half of 2009. For the second quarter, Safilo had revenues of €294.3m, up 7.3 per cent.

Sunglass sales grew 5.9 per cent in the first half, outperforming prescription frames which fell by 0.6 per cent. Safilo added that good sales volumes and a more positive price/mix effect led to a 14.5 per cent growth in sunglass sales in the second quarter.