Tod's Net Profit Up 27%; Sees Strong Sales Continuing

Italian luxury shoe company Tod's SpA (TOD.MI) said Friday its net profit rose 27% in the first half of 2011 to EUR65 million, driven by double-digit sales growth, which it expects to continue throughout the year.

Tod's said its earnings before interest and taxes rose 30% to EUR96 million, while total revenue rose 16% to EUR448 million from EUR387 million a year earlier.

The company said its results were "optimal" in all product categories and in all geographic markets.

Sales of the company's trademark Tod's brand, leather goods and across the company's expanding directly owned store network were especially strong.

Tod's Chief Executive Diego Della Valle said strong order flow for autumn collections make him "confident that the second half will prove very satisfying."

-By Christopher Emsden, Dow Jones Newswires; +39 06 6976 6920; chris.emsden@dowjones.com

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