Marcolin UK's first quarter bottom line profit increased by nearly 10 per cent in comparison to the same period in 2009 as Marcolin became the latest large manufacturer to announce a return to significant growth.
Marcolin UK managing director Perry Moore cited concentration on more profitable sales channels and a more efficient management of the sales team as the main reasons for the greatly improved local results.
Marcolin also has a favourable outlook for its UK business during the rest of the year, due to the reduction of its dependence on sunglasses, with the continued strengthening of its optical ranges, especially Tom Ford and Tod's and the addition of Swarovski to the portfolio in late 2010.
The comments came at the same time as the Marcolin Group announced its financial results for the first quarter of 2010, which saw a 10 per cent growth in revenue to €57.5m and an increase in net income of 44 per cent to €6m in comparison to 2009.
The results, which were approved by Marcolin's board of directors, revealed that its net financial position improved by €12.6m to minus €26.3m.
However, the company's European revenue, which contributed 36 per cent of its total turnover, remained static at €20.9m, an increase of only 0.3 per cent in comparison to the first quarter of 2009.
Marcolin reported that the situation of the European markets was 'on the whole stable compared to the same period of 2009', but added that good signs of recovery in some countries were countered by the negative effects of the economic crisis still affecting other markets.
Massimo Saracchi, chief executive officer and general director of Marcolin, commented: 'The Marcolin Group has started the year very well. Orders show important increases, our new lines have met with the favour of the international markets, and our company's operating strength and efficiency show good improvement. I am confident that in 2010 the Marcolin Group will achieve excellent results, with growth on last year.'
Several weeks ago Luxottica announced an increase in its first quarter global net income of 6 per cent at constant exchange rates to €95.1m (News 07.05.10).