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OVS back on track after its debut as a public company in March

Business

OVS back on track after its debut as a public company in March

By Angela Gonzalez-Rodriguez

30 Sep 2015

Trading as a public company suits OVS well. The Italian fashion group has posted net turnover of 20 million euros for the first six months of the year with, compared with a loss of 14.7 million euros recorded in the same period in 2014.

The company was listed on the stock exchange on March,2, a movement that is paying off for the group already.

In the first half of its fiscal year, ended July,31 OVS turnover came in at 611.1 million euros, 7.1 percent ahead of the result reported for the same period a year earlier. This improvement was mainly led by 1.6 percent increase in comparable sales and 5.5 percent by new openings both own stores and franchises.

The group´s namesake brand, OVS, closed the year with sales of 517.1 million euros, 6.96 percent more than the previous year. Meanwhile, Upim keeps the crown as the fastest growing during this period, up from 14.3 percent to 94 million euros.