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Sportswear group BasicNet posts booming €10.4 million profit in H1

By
Ansa
Translated by
Nicola Mira
Published
today Jul 29, 2019
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Italian sportswear group BasicNet, owner of several labels including Robe di Kappa, Superga, Jesus and KWay, closed H1 2019 with aggregate sales for its brands up 21.6% to €484 million, and a consolidated revenue rising by 48.6% to €137.8 million.


@kappa


Operating income improved by 43.8%, reaching €14.6 million, while the group’s consolidated net income rose by a whopping 60.2% to €10.4 million.

In a press release, the group indicated that, for the full financial year, “based on the orders received and thanks to the expected inflow of royalties and sourcing commissions, [BasicNet expects] that the second half of the year will confirm the positive trend in the results of [the group’s] ordinary business.”

However, according to BasicNet, this forecast “is still influenced by the general trend of the markets in question, over which there remains a shadow of economic and political uncertainty which reflects on the propensity to consume and on currency fluctuations.”

Copyright © 2019 ANSA. All rights reserved.