Safilo Profits Climb 14%

MILAN — Safilo Group SpA on Thursday said net profits in 2014 jumped 14 percent on the back of increased sales, especially in the Americas; lower financial costs, and the “step-change in Safilo’s global commercial strategy and operations.” In a statement after the close of trading in Milan, where Safilo is listed, the company said that net profit, adjusted for some one-off voluntary exit incentives and reorganization costs, increased to 44.5 million euros, or $59.2 million, from 39 million euros, or $51.2 million, in 2013. Group net sales in the full year climbed 5.9 percent at constant exchange rates, to 1.18 billion euros, or $1.57 billion, as the company kept a “clear focus on quality of sales and sustainable distribution.” Dollar amounts have been converted at average exchange for the periods to which they refer. Safilo — which produces prescription and sunglass frames for licensed brands including Alexander McQueen, Banana Republic, Dior and Marc Jacobs, as well as for own brands including Carrera and Polaroid — said that North America and Latin America were “key growth drivers” last year, with revenues in the latter jumping by 20 percent over the whole year and 40 percent in the last quarter. In the U.S., sales over

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