Ferragamo hails robust half-year

Italian shoemaker Salvatore Ferragamo yesterday shrugged off concerns that Europe’s financial turmoil is starting to take its toll on the luxury goods markets, as it posted a 22.5 per cent rise in first-half net profits. Net profit rose to €55.9m in the period, including minority interest profit for €11.1m. Sales in the period rose nearly 23 per cent to €565.1m, boosted by well-heeled travellers shopping in Europe and the group’s large retail presence in China.