(Alliance News) - Fope Spa reported Wednesday that the first half of 2023 ended with consolidated net revenues of EUR34.7 million, up EUR7.0 million, or 25 percent, compared to consolidated net revenues for the first half of 2022.

Diego Nardin, CEO of Fope: "The result testifies to the Group's stable growth process in its target markets. As is well established in our company's experience, foreign markets, led by America, have substantially generated this result, in this period also with the contribution of the Italian market that has kept pace. In June we opened our own monobrand boutique in Tokyo Ginza, confirming the interesting results recorded in Japan, a market that is still very young for us. The improvement in the delivery capacity of production processes positively affected the overall sales volume, allowing the order book recorded at the beginning of the year to be fulfilled on schedule. Sales were made with commercial conditions that did not alter their primary marginality, while the significant variations in gold prices are calmed by hedging operations already active at the beginning of the year. The fruitful cooperation with our dealers is proceeding and, also in light of the results obtained, we confirm the expectation of a positive closing of the current fiscal year."

Fope's stock on Tuesday closed at a par at EUR32.00 per share.

By Chiara Bruschi, Alliance News reporter

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