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Italian shoemaker Geox reports profit up 26 percent

Italian shoemaker Geox reports profit up 26 percent

Shoe retailer Geox SpA reported Tuesday that net profit jumped 26 percent from a year earlier, reflecting strong sales as it continued to roll out its network of stores across Europe, the United States and Asia.
Geox, best known for its patented breathable sole footwear, said net profit rose to euro123 million (US$185.04 million) from euro97.3 million in 2006.
The company said revenue rose 26 percent to euro770.2 million (US$1158.69 million), as sales from its European stores outside of Italy grew 30 percent. U.S. sales rose 28 percent.
The company's board also approved a dividend payout of euro0.24 (US$.36) per share.
Looking ahead, the company said it sees an annual sales growth of 20 percent over the next three years. The company added it aims to reach 1,500 Geox shops in 2010.


Updated : 2021-06-17 04:30 GMT+08:00