Friday, 28th January 2005 (4804 views)

Bulgari has reported an 11 per cent increase in profits, as the luxury goods market looks set to boom again.

The third largest jeweller in the world revealed that fourth quarter revenue increased to €273.3 million, beating the predicted growth of €270 million from analysts.

According to the firm the growth was due to a fresh demand for luxury goods and the release of new products.

During the same period last year, revenues rose by just five per cent and growth usually comes from watch and jewellery sales.

The latest growth was experienced in all product areas and regions such as Japan and the Americas saw the biggest growth.

However, the company's chief executive, Francesco Trapani, warned that the environment still remained difficult.

 

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