Fedon: growth in net profit

Giorgio Fedon & Figli closed 2016 with a sales revenue of 71.6 million euros (+ 0.33% on 2015). The net result of 1.6 million euros means an 8.4% rise compared to 31 December 2015. The EBITDA of 5.1 million euros is an increase of 19.3% over 2015.Chairman Callisto Fedon had this to say: “A more than positive result for the group in the sectors of distribution and retail development.Our plans for store and shop-in-shop openings is proceeding according to our multi-year programme and, while this past business year saw new stores opened in high-traffic areas in Italy, our objective for 2017 is to grow our travel retail business also abroad. We have interesting projects in the pipeline that see us ready for new openings in some important airports in Spain (Madrid), France (Lyon) and in Germany. A few days ago we opened a single-brand store in Hong Kong airport.”