Q1 figures down for Geox
10/05/2012
Over the three-month period, the company brought in sales of EUR 330 million, a decline of 4.4% compared to the same quarter in 2011. From this, its earnings before tax were EUR 62.9 million, which is 8.7% down on the corresponding figure for last year.
Geox founder, Dr Mario Moretti Polegatto, said on announcing the figures: “The economic outlook in Europe, our home market, remains uncertain and prudence is going to be the watchword for 2012. We are responding by adopting policies to contain the amount of risk the business is exposed to, which means sacrificing a little on earnings.”
He said margins and the company’s cash position were still strong.
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