Panariagroup, consolidated net profits up 18.6%

Feb 16, 2006

16/02/06 - Panariagroup, the ceramic group led by the Mussini family, closed 2005 with an 18.6% increase in consolidated net profits (18 million euro) over the previous year.
Revenues also performed strongly (up 4.9% to 241.7 million euro), while gross operating margin rose by 11.3% to reach 43.7 million euro.

“The results reflect our strong performance in all the group’s main markets,” commented Panariagroup’s chairman Giuliano Mussini, “and we aim to continue this process of growth and development. 2005 was a particularly dynamic year for Panariagroup with excellent management and strategic results, culminating in the acquisition of the Portuguese firm Novagres.”