Costs drive down profits at Natuzzi - leatherbiz: Leading news site fo Leatherbiz

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Costs drive down profits at Natuzzi

26/03/2001
Increased raw materials prices – especially leather and oil by-products – meant profits at the Italian sofa manufacturer Natuzzi were down 5.1% on the year before, to L153 billion ($70 million).

Turnover at the company, which is listed on the New York stock exchange, was L1.333bn (up 22.1 per cent). However, net profits dropped 5.1 per cent to L153.3bn while earnings per share reached L2,685.

Sales increased 12.5 per cent in 2000, while gross profits increased 15.4 per cent to L507.7bn. Operating profits climbed 5.7 per cent to L245bn. The rise in raw materials prices was particularly marked in the fourth quarter, causing profitability to fall by 10.1 per cent compared with the same period the year before, to L41.6bn.



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