Fedon: third quarter results

The Fedon Group closed the first nine months with billings equal to 42,030 million euros, a slight downturn (-1.5%) compared to the same period of 2003. But this slight variation is compensated by an excellent portfolio of orders. The market trend during the last quarter will be decisive for the year-end result.

According to Chairman, Callisto Fedon 'the company is heading in the right direction for coping with the increasingly tougher competitors and producers in the Far East. Added to this there has been an increase in the cost of all basic raw materials, their shortage and a stronger dollar which adds to the problems of companies like ours which survive on exports'.

To cope with this competition, especially in the Far East and North American markets, thanks to advantageous trade agreements between China and the US, Fedon plans to open a new facility soon in the Shen Zen industrial area in China, which will join those already operating in Italy, Slovenia and Romania.

Design and functionality have always been a feature of Fedon's products, which are absorbed by the large Italian and foreign eyewear producers, commercial chains, international purchasing groups and opticians stores that are particularly conscious of anticipating fashion trends, of providing good service, and giving value for money.

In a positive note, turnover for the new leather and office line 'Giorgio Fedon 1919', (+76.4% compared to 2003), which started from zero a couple of years ago, has gained considerable space in the top-level segment of the sector.