German shoe manufacturer Lloyd Shoes GmbH has reported a 17% rise in turnover to DM101.5 million ($47 million) for the first half of 2001. Earnings figures were not released but described as ‘satisfactory’. Growth was slower at home than abroad, where sales were up 21%.

Higher leather prices and the strong dollar increased costs for Lloyds Shoes, but this was counterbalanced by an increase in productivity at a new factory. Lloyds has now begun its own chain of retail outlets after dissolving the relationship it already had with retailers at the start of the year.

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