News & numbers “While the market continues to experience significant macroeconomic headwinds… we outgrew
the market with a currency adjusted sales growth of 6% and delivered an EBIT of €236m.” Puma CEO Arne Freundt
Pecca Group continues to soar with fifth consecutive quarter of record profits
Pecca Group, a prominent supplier of leather to the automotive and aviation sectors, has announced an impressive surge in net profit, recording a remarkable 55.8% increase for the quarter concluding 30 September. The net profit reached an unprecedented RM13.01m ($2.78m), marking a substantial rise from the RM8.35m ($1.79m) reported in the corresponding quarter of the previous fiscal year.
This milestone signifies Pecca’s all-time highest quarterly net profit, extending its streak of achieving record profits and revenues throughout the past three financial years. The initial quarter of the 2024 fiscal year signifies the fifth consecutive quarter of establishing new
profit benchmarks. The notable growth in net profit is credited to a robust 16.7% increase in quarterly revenue, totalling RM64.05m ($13.72m), in comparison to RM54.86m ($11.75m) during the same period a year ago. Pecca attributes this surge in revenue to heightened demand for leather upholstery, contributing approximately 90% of the group’s total revenue, and the production of fabric car seat covers, contributing around 5%. Expressing contentment with the group’s robust financial performance, Pecca’s CEO, Foo Ken Nee, underscored the commitment to sustained business growth. He disclosed ongoing initiatives to broaden the customer base within the replacement equipment
Geox discloses financial performance for the first three quarters of 2023
Renowned Italian footwear and apparel manufacturer Geox has unveiled its financial results for the initial nine months of 2023, reporting a 2.3% year-on-year increase in consolidated sales, amounting to €582m.
Wholesale sales, comprising 55.7% of the total, recorded an 8.2% surge, reaching €324.4m. Franchising revenue, contributing 8.4% to the overall sales, increased by 0.8% to €48.67m. The number of franchised shops decreased from 294 in September 2022 to 282 in the corresponding month of 2023. Directly operated stores (DOS) represented 35.9% of total sales, declining by 5.5% to €208.9m. Geox shops constituted 44.3% of sales, decreasing by 4.3% to €257.58m. DOS locations reduced from 318 in September 2022 to 261 in September 2023. Italy, Geox’s domestic market, accounted for 27.3% of sales, demonstrating a 6% increase to €158.87m. Wider Europe, contributing 42.4%, experienced a 5.2% year-on-year decline to €246.94m. North America, comprising 3.7% of total sales,
Leather International /
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witnessed an 8.5% decrease to €21.27m. Other countries, constituting 26.6%, saw a 14.3% increase to €154.88m. Footwear constituted 90.4% of the company’s sales for the year, growing by 1.7% to €526.38m, while apparel increased by 7.8% to €55.58m.
$582m
Financial results from the first three quarters of 2023. Geox
Geox founder Mario Moretti Polegato remarked, “2023 looks like a year of stabilisation and moderate growth after the strong increases recorded in the previous two years. Sales realised in the first nine months, delivered indeed an increase of 2.3% at current exchange rates compared with the previous year. This result gains more value considering that it was achieved in a complex macroeconomic situation characterised by strong geopolitical tensions, high interest and inflation rates that induce strong concerns and cautious consumption.”
manufacturer segment, targeting both local and foreign markets in the US, Australia, New Zealand, Singapore and Europe. “We are pleased to kick off fiscal year 2024 with another set of solid financial results, underscoring our commitment to achieving sustained business growth. This marks the fifth consecutive quarter where the group has set a new net profit record,” he said. “We will continue our efforts to diversify into new markets and transform the group into a multiple-engine growth ecosystem. Our strong cash position, which has risen to RM112.6 million (US$24.12m) as of the first quarter, will give us the firepower to catalyse our growth,” Foo added.
Tod’s introduces digital product passports via Aura Blockchain
for Di Bag Italian luxury brand Tod’s has recently become a member of the Aura Blockchain Consortium.
It has introduced digital product
passports (DPP) for its exclusive Di Bag. By incorporating NFC tags, customers now can access comprehensive information about the bag’s manufacturing and supply chain. The DPP not only ensures transparency but also includes ownership certificates, providing authentication for the product, along with additional undisclosed consumer benefits. Tod’s envisions expanding the application of DPPs from the Di Bag to its wider range of products in the future. The company stated, “This unique tool will highlight the origin of materials, production and compliance processes, and the quality, sustainability, and transparency aspects that guarantee the value and identity of your Di Bag over time. Additionally, through the bag’s Digital Product Passport, our customers have the chance to enjoy a selection of exclusive premium benefits.”
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