Grendene reports 47% increase in profits - leatherbiz: Leading news si Leatherbiz

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Grendene reports 47% increase in profits

21/11/2005
Grendene, Brazil's largest producer of injected footwear, has reported net profit of R$70 million (US$ 31,500 million) in the third quarter of 2005, a 47% increase over the R$48 million (US$ 21,600 million) reported in the same period of the previous year. However, from January to September, the company's profit fell 14% to R$116 million (US$ 52,111 million) and revenue dropped 9% to R$299 million (US$ 134,321 million) in the third quarter. 


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