Italian retailer OVS maintains momentum after annual profit grows

Italian retailer OVS maintains momentum after annual profit grows

By

Reuters API

Italian clothing retailer OVS


Piombo

OVS posted an 11.3% increase in net sales to 1.5 billion euros ($1.6 billion) and a 22.4% growth in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 180.2 million euros in the fiscal year ended in January

Since February, the Italian retailer said it had increased like-for-like sales by more than 10%.
The group, whose other brands include StefanelUpim

Shares in OVS on the Milan stock exchange rose by more than 2% after the release of the results and closed up 1.15%.

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