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Giueseppe Stefanel believes the future looks brighter for Nuance |
ITALY. The Nuance Group 50% co-parent company Stefanel said this morning that its net profitability at Nuance narrowed to a loss of €4.3 million for the first half of 2005. That represented a strong improvement on a €5.5 million loss for the same period last year. Nuance represents 70% of Stefanel’s sales and declared its first-half performance yesterday.
Nuance saw a positive trend in the number of passengers but this was offset by lower spending in some locations, Stefanel said.
“To deal with this trend, the company has launched an in-depth analysis to improve the sales organisation, and the first results of this should emerge in the second half,” it commented.
Stefanel revealed the Nuance net profitability among its full-first half results which saw a strong turnaround to a €1.8 million group profit, from a loss of €9.0 million a year earlier, supported by an improvement in all sectors of the business.
EBIT rose to €8.7 million from €8.6 million in the first half of 2004. EBITDA was €14.1 million against €8.6 million, and sales were €126.7 million against €113.4 million, it said.
“The results in the first half are in line with the targets set in the three year business plan 2004-2006, and show a clear improvement in profitability in all the business units,” Stefanel commented.
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