Bulgari Group H1 revenue up 15%
Operating profit and net profit increased by 17.0% and 31.5% respectively in comparison to the same period of 2006. Gross margin increased from E286.5 million in the first half 2006 to E311.5 million in the first half 2007 increasing by 8.7% and remaining substantially stable in terms of percentage ratio on turnover (63.9% in 2007 compared to 64.0% in 2006). Operating profit was E61.7 million, an increase of 17% compared to E52.7 million in the same period of 2006. Francesco Trapani, CEO, Bulgari Group, said: "I am very satisfied with the excellent results of the first half of the year and with the positive sales trend registered in the months of July and August which, together with the investments the company is making all over the world - make me confident in a brilliant second part of the year. Therefore I think that, in absence of extraordinary events and in presence of a good sales performance in the year-end holiday season - in 2007 it is reasonable to expect for Bulgari a double-digit growth for revenues at comparable exchange rates and net profits in the higher portion of the range already given as a guidance to the market."