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Safilo contraction continues

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Full year net sales released by Safilo have showed a slump of 4% at constant exchange rates (and 7% at current exchange rates), with revenue of €962.9m for the year ended December 31, 2018.

This figure was down from €1,035.3m in 2017, while in 2016, sales totalled €1,252.9m. Not since 2004 has the company recorded sales below €1bn. The company said the results were broadly in line with its expectations for the year.

Performance in the final quarter of 2018 yielded positive results, with increased sales in the core region of Europe, driving an overall 1.3% increase in sales for group during the period.