Safilo reports mixed results

Safilo reported a net loss of €4.7m for the third quarter of 2011 compared to a net loss of €0.4m for the same period in 2010.

However, net profit for the first nine months of 2011 was €26.6m compared to the net loss of €3.6m for the same period in 2010.

The company's third-quarter sales results were up 4.1 per cent at constant exchange rates thanks to a good performance in the American market.

Chief executive officer Roberto Vedovotto said that while the reaction of the US market was reassuring, in spite of the uncertain economic environment, the performance of Europe in the third quarter was affected by a slowdown in the market.