Ferragamo eyes growth after profits beat forecasts

By
Reuters

Published
Mar 16, 2012

Gisele Bundchen for Salvatore Ferragamo

MILAN, March 15 | Thu Mar 15, 2012 4:56pm GMT

MILAN, March 15 (Reuters) - Italian luxury shoemaker Salvatore Ferragamo is expecting "significant growth" in 2012 after sales in Asia of its leather handbags and shoes helped lift full-year profits above forecasts.

Profits rose around 70 percent to 103.3 million euros ($135 million) in 2011, beating a Thomson Reuters SmartEstimate of 79.9 million euros, as revenues in all markets including Europe increased close to or higher 30 percent.

The board proposed a dividend of 0.28 euros per share, above forecasts. ($1 = 0.7651 euros) (Reporting by Antonella Ciancio and Sabina Suzzi)