Ovs sees second half profitability much higher than last year

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MILAN (Reuters) – The CEO of Ovs believes that in the second half of the year the group can record a significant increase in profitability compared to the same period last year, when the results were impacted by the disposal of excess stock and from the unfavorable weather.

"Profitability in the second half of the year will grow significantly," said CEO Stefano Beraldo on the sidelines of the inauguration of a Upim flagship store in Milan and the presentation of the brand's relaunch plans. "We expect good margins, much higher than the same period last year," he added.

Also in the first half of the current year (which closes on 31 January) the company had suffered from the sale of the goods and the weather conditions.

To a question about revenues, the CEO simply replied that "this is the year of profitability" and that the weather is normalizing with a consequent improvement in sales.

In the third quarter, the CEO said the company is about to close it in line with its expectations. "It will be a good third quarter," he explained.

Finally, Beraldo added that this year's sales of the subsidiary Upim see double-digit growth.

The group aims to grow Upim through the opening of new stores, even in less densely populated areas and within hypermarkets.

On the site www.reuters.it other Reuters news in Italian. The top news also on www.twitter.com/reuters_italia



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