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By
Reuters
Published
Mar 24, 2009
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Tod's 2008 net profit up 8%, dividend unchanged

By
Reuters
Published
Mar 24, 2009

MILAN, March 24 (Reuters) - Italian luxury shoe and bag maker Tod's SpA (TOD.MI) left its 2008 dividend unchanged at 1.25 euros a share on Tuesday March 24 after reporting a 7.9 percent rise in its net profit to 83.4 million euros ($113.7 million).


Gwyneth Paltrow for Tod's, Spring-Summer 2009

In January it said consolidated revenue climbed 9 percent to 716.4 million euros on a constant currency basis.

Chairman and Chief Executive Diego Della Valle said there was no visibility for the current year because of the economic conditions. He had said in January Tod's expected to increase its sales and profits in 2009 despite the uncertain outlook.

"The first signals of the current year are considered positive," he said in the statement. "The group's objectives are to maintain and consolidate market share and profitability."

He said the group would do this through several measures such as greater attention to costs and "strong attention" to product innovation.

Shares reversed gains to be down 0.59 percent at 33.43 euros at 1449 GMT, while Milan's Mibtel was down 0.43 percent. (Reporting by Marie-Louise Gumuchian; Editing by Greg Mahlich) ($1=.7337 euros)

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