Salvatore Ferragamo SpA logged another year of growth in revenues and profits, driven by its handbags and leather accessories and gains in all geographic markets, led by its retail channel in China. The Florence-based group closed 2014 with net profits up 4 percent to 157 million euros, or $209.3 million at current exchange, from 150 million euros, or $199.9 million, in 2013. The latter figure includes around 13 million euros, or $17.1 million, of capital gain deriving from the disposal of the company’s participation in Zefer. Excluding this, net profit rose 13 percent.
Revenues climbed 6 percent to 1.33 billion euros, or $1.77 billion, compared with 1.26 billion euros, or $1.66 billion, in the previous year
In the 12 months ended Dec. 31, earnings before interest, taxes, depreciation and amortization grew 13 percent to 293 million euros, or $389.7 million.