Safilo reports record profits as it renews Tommy Hilfiger licence

Safilo has registered a second-quarter 2014 sales increase of 7.4 per cent, with a rise of 4.7 per cent for the first half of the year.

The company, which has just announced a five-year renewal of its global licencing agreement with Tommy Hilfiger, said that the first half saw an improvement of gross profit margin of over 63 per cent for the period at €383.5m, with the group’s highest level of gross profit margin (63.7 per cent) achieved in the second quarter at E199.5m. Adjusted net profit was up some 23 per cent both in the second quarter and first half.

Group total turnover was €313.1m, up 3.9 per cent compared to €301.4m in the same quarter of 2013, while net sales for the first six months were €606.3m, up 1.3 per cent compared to €598.4m in the first half of 2013.