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Reuters
Published
Mar 10, 2015
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Italy's Cucinelli posts 8.4 pct rise in 2014 core profit

By
Reuters
Published
Mar 10, 2015

MILAN, Italy - Italian cashmere maker Brunello Cucinelli reported on Tuesday an 8.4 percent rise in 2014 core profit as robust demand for exclusive luxury pushed its sales higher.

Cucinelli, whose cashmere sweaters can sell for more than $3,000, said in a statement earnings before interest, tax, depreciation and amortisation (EBITDA) totalled 63 million euros ($67.5 million) in 2014.

The company said its board had proposed the distribution of a dividend of 0.12 euros per share.

Cucinelli reported in January a 10.3 percent rise in 2014 sales to 356 million euros helped by a strong performance in North America, which accounts for a third of total revenues.

€1 = $1.07/£0.71

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