Cucinelli sees double-digit sales and profits growth in 2016
today May 11, 2016
Italian luxury group Brunello Cucinelli expects to reach double digit growth in sales and profits this year as it reported 9 per cent rise in first quarter sales at current exchange rates, in line with expectations.
The company said on Wednesday sales came in at 121.8 million euros ($139.24 million) in the first three months of the year, a touch above a Thomson Reuters SmartEstimate of 121 million euros.
"We can expect for 2016 a healthy double-digit growth both in sales and profits," Chairman and Chief Executive Brunello Cucinelli said in a statement.
Sales grew by 9 percent in North America and Europe and by 11 percent in Greater China, it said. Domestic sales, which account for 20 per cent of overall revenues, were up 6.4 percent.
$1 = 0.8747 euros
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