Bulgari The Euro Takes Its Toll
During the first quarter of 2007 the Italian jeweller Bulgari recorded a turnover of 225.1 million euros, up by 10.4% compared to January-March 2006. At constant exchange rates, the increase would have been even higher at 16.4%. However the strength of the euro decided otherwise. Net profit meanwhile increased by 31.5% to 23.9 million.
In terms of the main sectors of activity, growth in nominal terms was very variable: +27.2% to 43.0 million euros for perfumes, +18.2% to 94.0 million for jewellery, +0.3% to 58.5 million for watches (but +8.6% at constant exchange rates) and -17.1% to 21.1 million for accessories.
At the level of markets, growth was strongest in Europe (+15.9% to 84.4 million euros, with +21.7% to 30.0 million for Italy) and in Asia (+12.0% to 93.5 million, but -16.1% to 48.6 million for Japan). Next come the Middle East (+7.8% to 13.5 million) and the Americas (-3.7% to 33.7 million).
For the watch sector, the coming months look promising in the light of the welcome accorded to new products at Baselworld 2007, particularly the new collection of prestige Assioma D watches.
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