Fedon growth in first six months

The first six months of 2003 have also confirmed a positive trend for the Fedon Group: at June 30, 2003, revenues increased to 31,310 million euros, 11.4% up compared to the same period in 2002.

The operating margin was 1.76 million euros and the net result came to 638 thousand euros. Also confirming the positive trend is a portfolio of orders worth 16.3 million euros.

'An excellent result', commented president, Callisto Fedon, 'which, despite the difficulties in the eyewear sector, consolidates an acceleration that began during the second half of last year and reflects the Group's soundness, the considerable commitment made by the entire organization, and the success of the new collections.'

The strengthening of the structure at domestic and international level was also pursued in 2003 with the acquisition of a company (now part of the Group and called Fedon Printing Srl) which specializes in the production and personalization of microfiber and lens cleaning products for promotions and sale, and of 100% of Fedon America Inc. of Norwell, the Us partner which has been distributing Fedon products in the North American and Canadian markets since 1999.

Apart from the Usa, the group is present abroad with facilities and direct branches in France, Germany, Asia (in joint-ventures with Victoria Enterprises Ltd. of Hong Kong), Slovenia and Romania, which produce and distribute over 65 million items (22% of the world market) including eyewear cases, accessories, leather articles, writing and desk articles, and has over 650 employees.

In the latter sector, Fedon operates increasingly successfully under the Giorgio Fedon 1919 and SOS labels. The aim is to take advantage of the considerable experience acquired in quality craftsmanship and to meet new fashion trends and contemporary lifestyles with top-of-the-range proposals featuring a sober, minimalist image.