Links of London owner posts strong results for H1 2016
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The FF Group – owner of watch and accessory brands Links of London and Folli Follie – has posted strong first-half results despite an “adverse global environment”.
Consolidated revenues for the group reached €653m (£567m), compared with €594m (£516m) in the same period of 2015 – an increase of 9.8%.
Improved performance in the company’s business segments helped operating profits increase by 16.2% to €131.5m (£114m) compared with €113m (£98.3m) in the first half of 2015, while earnings before interest, tax, depreciation and amortisation (EBITDA) were up 16.1% to €148.8m (£129m).
Revenues from the group’s jewellery, watches and accessories increased by 10.3% to €482.5m (£419m), and its department store revenues were also up 5.9% to €82.8m (£71.9m).
Meanwhile, revenues from the retail and wholesale of its footwear and apparel division increased by 11% to €87.4m (£75.9m).
George Koutsolioutsos, CEO, said that 2016 was “evolving positively” for the group, despite the continuing challenges such as Brexit and recent terrorist attacks.
