Benetton closes the first nine months of the year with net profits down sharply, to 60 million euroso (4,1% of revenues), against 84 million registered in the same period last year. The drop in sales on European markets, particularly in Greece, but also in Portugal, France, Spain and Italy weighed heavily on the accounts. Sales in emerging markets are growing.
Group net revenues reached 1.481 million, almost unchanged at constant exchange rates compared to the same period of 2010 (-0,5%). As for the individual sectors, that ofclothing produced revenues of 1.388 million, with a reduction of 2010% compared to the first nine months of 1,4 (30 million), while the textile it achieved revenues up by 16,3% (93 million, compared to 80 million in the comparative period), also due to the increase in the prices of raw materials.
Geographically, as far as i emerging markets the increase in revenues was 11% at constant exchange rates and with a weight on turnover that rose to 26% (from 24% for the first nine months of 2010). In the established markets, however, revenues fell 4% at constant exchange rates. Outside of Europe, the USA (-9% at constant exchange rates) and Japan (-23%) were negative, also following the rationalization of the network of points of sale in these markets.
Shortly after 15 pm, Benetton's shares lost 30% in Piazza Affari.
