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Roberto Cavalli back in the black

Italian fashion house Roberto Cavalli has said it will post a profit for the year to December 31 when it reports its results in April.

According to reports the group will be back in the black for the end of 2010 and Cavalli said the second half had “confirmed the positive performance” in the first six months of the year.

The company previously reported a net profit of €1.9m (£1.6m) for the first six months of the year. It made a loss of €3.5m (£3m) the year before.

Full-year sales for 2010, which are yet to be audited, are reported to have dropped by 6% to €176.2m (£148.9m), because of a drop in royalties from the Just Cavalli license and the sale of businesses such as its fabric printing plants.

However, retail sales grew by 28%, due to an 18% increase in like-for-like sales, the opening of seven stores and online sales growth.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) for 2010 is estimated to have risen to around 14% of sales, compared with 11.7% at the end of 2009.

The Roberto Cavalli group had 135 stores at the end of 2010.

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