Bulgari First-Half Sales Up 9%

Bulgari SpA reported that first half of the year sales grew by 8.9 percent to 487.8 million euros ($600 million), driven by good performances in jewelry, watches, and perfumes. At comparable exchange rates, removing currency fluctuations, sales growth was 14.8 percent, the luxury retailer said.

Accessory sales fell 8.2 percent for the period because of the weakness of the Japanese market.

Net profits for the first six months ended June 30 rose 32 percent to 58.4 million euros ($71.8 million). Sales for the period increased 8.9 percent to 487.8 million euros ($600 million). The company said sales rose 15 percent at comparable exchange rates.

First-half earnings before interest and taxes increased 17 percent to 61.7 million euros ($75.9 million).

Bulgari’s second-quarter sales increased 7.7 percent to 262.6 million euros ($354.5 million). Its net profits grew 31.5 percent to 34.4 million euros ($46.4 million),

Francesco Trapani, Bulgari chief executive officer, said he expects sales and net profits to grow 10 to 12 percent for the full year.

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