Damiani SpA's net profits up by 170%

Damiani SpA, the Italian luxury jeweller is looking at the apex now, considering its net profits scaled by a whooping 170% to value at €10.1 million ($14.7 million). in six months ending September 30, 2007. Last year, its had earned €3.7 million ($5.4 mn) net profits for the same period.

Also, net sales were higher by 21% to amount to €81.8 million ($119.4 mn), with sales in the Italian markets growing by 6% to €51.9 million ($75mn), accounting for 63% of group revenues. In Amercican markets, sales hiked by 19% to value at €4.1 million ($5.9mn). However, due to the weakening of the yen sales in Japan were lower by 4% to €4.93 million ($7mn). Revenues from Russia and the Middle East, rose by 108% to €20.8 million ($30.3 mn).