Fedon half year results

The Giorgio Fedon & Figli Board of Directors has approved the half year financial report as at June 30, 2016. Turnover fell to 35.8 million from 36.4 million at June 30, 2015. The turnover by Fedon’s monobrand stores grew by 52.6% to 2.2 million euros compared to June 30, 2015 (1.4 million), which included openings that were not part of the second half of 2015, and closings that had taken place at June 30, 2016. The turnover from sales to optics manufacturers stood at 27.5 million euros compared to 29.2 million of the previous year, a variation that can be attributed to a slight downturn in the market. Wholesale turnover relating to optical stores and the leather goods distribution circuit totaled 6.1 million euros, a 7.9% growth compared to 5.7 million at June 30, 2015. Wholesale performance in the optical sector was also excellent with growth of 14.8%.(Photo: The President Callisto Fedon with the Ceo Maurizio Schiavo)