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Benetton Q1 profits rise

Italian fashion chain Benetton saw net profits rise 8.6% for the first quarter of the year.

Profits after tax at the group were €29 million, up from €27m for the same period of the previous year. Revenues in the first quarter were €465m, up 3.4% from €450m.

The company said that faster delivery schedules for the spring summer collections helped boost sales.

Benetton predicted like-for-like sales increases of between 6% and 8% for the 2008 financial year, with a rise in EBITDA and net income of at least 7%.

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