MILAN, March 14 Italy's Salvatore Ferragamo
posted on Tuesday rising net profits in 2016 thanks
to a new national tax break regime but core profits and margins
in the same period were flat.
Ferragamo said group net profits were up 17 percent to 202
million euros, above a Thomson Reuters estimate of 195 million
Earnings before interest, tax, depreciation and amortisation
(EBITDA) came in 324 million euros in 2016, unchanged from the
previous year and just below a Thomson Reuters analyst estimate
of 327 million euros.
EBITDA margin was marginally down to 22.5 percent from 22.7
percent in 2015.
The group proposed to pay an unchanged 0.46 euro per share
"Despite the current geopolitical uncertainties and only a
slow positive evolution of the macroeconomic scenario, Salvatore
Ferragamo confrims expectations for another positive year," the
group said in a statement.
(Reporting by Giulia Segreti)