(ANSA) - Milan, September 12 - Italy's Valentino Fashion Group posted a net
profit of 41.4 mln euro ($57.4 mln) for the first half of 2007, up 18.3 pct
year-on-year, Valentino said in a statement.
Valentino's turnover grew 11 pct to 1.027 bln euro ($1.424 bln) and net
financial debt totalled 453.5 mln euro ($628.6 mln) at June 30, 2007, compared
to 407.3 mln euro ($564.6 mln) as at June 30, 2006.
The net financial position/net financial debt is calculated as the
difference between a company's financial debts and liquid assets.
The rise in debt compared to the 340.9 mln euro ($472.5 mln) at end-2006 is
to be attributed chiefly to the dividend which the fashion group paid in the
first half of 2007 and to working capital investment, Valentino explained.
The group expects a trend of
some 10 pct growth in its 2007 full-year sales, with the operating profit and
the pre-tax profit up more than the sales, the statement added.
