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Article: VERSACE GOES VROOM: FIRM'S NET LEAPS, POSSIBLE IPO IN THE CARDS.(Gianni Versace S.p.A.'s Giancarlo Di Risio)(Interview)
- Article from:
- WWD
- Article date:
- March 30, 2007
- Author:
CopyrightCOPYRIGHT 2007 Fairchild Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amanda Kaiser
MILAN - Gianni Versace SpA is back in the black and on track for a potential initial public offering.
Versace said Thursday it posted net profits of 19.1 million euros, or $24.1 million, last year. Year-earlier figures are not directly comparable because asset sales, including that of the family's Manhattan town house, padded accounts. Net profits in 2005 were 35 million euros, or $43.7 million.
Versace's sales dropped 6.2 percent to 288 million euros, or $362.9 million. (Dollar figures have been converted from the euro at average exchange rates for the period to which they refer.)
A slip was expected since the ...