Fedon Group: half-year results

The Fedon Group closed the first six months of 2005 with revenues amounting to 29.134 million (-3.5%). The order portfolio, back to maximum levels at 18.178 million (+1.2%), lays the basis for a positive development for the year.

Diversification in the Giorgio Fedon 1919 label top-of-the-range small leather items for the office and travel has proved to be a success with a 38.7% increase in sales.

The Company, world leader in the sector for eyewear cases and accessories, listed on the Second Marché of the Paris stock exchange, is taking a decisive stance to cope with the serious problems caused by competition from the Far East and the weak dollar; constant product innovation and balanced production will lead to considerable improvements in competitiveness.

The production facilities in Cadore and Romania have been joined by a new, wholly-owned facility in China which will allow a reduction in costs, the control of the entire production process and the direct supply of customers in that important area.

A positive half-year note also for the trend in the services sector with Hawk, a Group company operating in automation, and with Expoplay by Fedon, which specializes in the creation and production of display units.

As regards the collection of office and travel accessories with the 'Giorgio Fedon 1919' label, the Group's new and successful business, directly-managed stores will be opened in important cities after Vallesella di Cadore (Belluno), the company's historical head office.