Safilo starts the year strongly

Safilo began 2013 with improvement in all key performance indicators and a rise of consolidated net sales of 2.9 per cent at €297m.

First-quarter growth was led by the contribution of organic business performance and Polaroid's sales, described as more than compensating for the termination of the brands phased out in 2012. Group net profit rose 12.1 per cent to €13.4m, with gross profit up 3.2 per cent at €179.7m.

In spite of the difficult economic environment in Europe, Safilo said net sales totalled €128.2m, compared to €118.4m in the first quarter of 2012, up 8.3 per cent. As well as Polaroid there were positive sales for licensed brands Gucci, Dior, Marc Jacobs, Hugo Boss and Tommy Hilfiger.