Benetton scraps dividend, says 2012 net may fall

Italian retailer Benetton said on Thursday it would not pay a dividend on 2011 results after a tough year hit by sluggish consumer demand in markets in Southern Europe.

Benetton said its net income could fall slightly this year from the 73 million euro profit reported in 2011, because of the rising cost of servicing its 548 million euro debt load.

Its net debt was 486 million euros at the end of 2010. (Reporting by Michel Rose)

© Thomson Reuters 2017 All rights reserved.

Fashion - Ready-to-wearRetail