Retailers

Fope H1 revenues soar 44% to £12.5m

The figure represents a return to group revenues that are ‘essentially in line’ with the company’s pre-pandemic H1 FY19 results

Italian fine jewellery group Fope has reported a 44% year-on-year revenue growth to €14.6m (£12.5m) in H1 FY21.

The figure represents a return to group revenues that are “essentially in line” with the company’s pre-pandemic H1 FY19 results.

Moreover, Fope revealed that EBITDA for the period reached €2.4m (£2.05m), a 243% rise from last year’s €700,000 (£600,000).

Diego Nardin, CEO at the AIM Italia listed firm, claimed the results are “comparable with those recorded” in H1 FY19, despite the “closures and limited opportunities for contact with customers”.

He added: “These results provide yet further confirmation of our strategic vision and the importance of the Fope brand with our retailers. 

“The new collections unveiled at the start of the year have proven very popular and this has without doubt helped towards the achievement of the sales results seen from the early months.”

The growth in revenue was reported alongside the launch of new lines of jewellery at the group, which are designed to include “the world of men”.

Designed to “intercept the demand of the male universe”, the new collections represent Fope’s debut male release.

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