Folli Follie announces record profits

Emily Pacey

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Greek jewellery company Folli Follie SA has announced a year-on-year pretax profit increase of 16.3% for 2004

The jewellery, watches and accessories supplier and retailer said that its consolidated sales increased from €160.6m in 2003 to €194.9m in 2004, representing an increase of 21.4%. Travel-retail sales accounted for 13% of the total figure.

Jewellery represented 66% of all sales, watches 28% and accessories 6%.

The company, whose Asian business contributed 37% to its sales, plans to expand its business in Europe in 2005.