The Italian fashion company Brunello Cucinelli SpA was able to increase its profit significantly in the first six months. The basis was a sales increase of over 32 percent, which the knitwear specialist had already announced in mid-July.
On Tuesday, the company presented its complete interim report for the first half of the year. Accordingly, thanks to an improved operating margin, earnings before interest and taxes (EBIT) were more than twice as high as in the same period of the previous year: They grew by 128.5 percent from 25.3 to 57.8 million euros. The net profit attributable to the shareholders jumped from 20.3 to 46.6 million euros (+129.6 percent).
Brunello Cucinelli, the fashion house’s executive chairman and creative director, praised the “excellent results in terms of growth and profit” in the first half of the year in a statement and confirmed the latest forecast: “We expect a record year 2022 with sales growth of around 15 percent”. , he explained. Thanks to “very good” order numbers for the spring/summer 2023 season, the company is currently aiming for a sales increase of around ten percent for the coming year, according to Cucinelli.
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