Zignago: 1H 2005 net profit up 12%

Italian textile, wine and glass group Industrie Zignago Santa Margherita SpA posted a consolidated net profit of EUR 11.4 million (USD 14.2 million) for the 1H of 2005, up 12.6% year-on-year, it was r…

Italian textile, wine and glass group Industrie Zignago Santa Margherita SpA posted a consolidated net profit of EUR 11.4 million (USD 14.2 million) for the 1H of 2005, up 12.6% year-on-year, it was reported on 9 September 2005. The group“s revenue fell 3.0% to EUR 132.1 million (USD 164.1 million). Earnings before interest, tax, depreciation and amortisation (EBITDA) were down 11.3% to EUR 30.2 million (USD 37.5 million), while operating profit decreased 19.9% to EUR 14.5 million (USD 18 million). The results were approved on 9 September 2005 by the board of directors. Revenue in the glass sector increased 4.8%, while wine sector revenue fell 20.7% and textile revenue was down 9.5%. Turnover generated abroad totalled EUR 44 million (USD 54.7 million), down 14.3%. Net financial debt on 30 June 2005 stood at EUR 36.9 million (USD 45.8 million) versus EUR 22.4 million (USD 27.8 million) on 30 June 2004. The net financial position/net financial debt is calculated as the difference between a company“s financial debts and liquid assets. (Unless otherwise stated, all figures/comparisons are for 1H 2005/1H 2004)