Safilo returns to profit

Eyewear supplier Safilo Group swung into a profit during the first half of the year after improving its sales and margins.

The Italian brand group posted net sales of €603.3m during the first six months of the year, an improvement of 4 per cent.

Safilo, whose licensed eyewear brands include Alexander McQueen, Giorgio Armani, and Gucci, did not report any figures on the UK market, but saw sales in Europe climb 5.3 per cent to reach €261.8m.

It described the European performance as 'better', with 'upbeat growth' in Asia and Latin America and 'sound trading conditions' in the US.

Net profit was €31.3m during the first half of the year, compared to a net loss of €3.3m in the same period last year, thanks to an improved 5.2 per cent margin.