(Alliance News) - Labomar Spa reported Thursday that revenues for the first quarter amounted to EUR28 million approximately, up 47 percent from the same period last year when they were EUR19 million.

According to company reports, 53 percent of the performance was achieved abroad.

CEO and founder Walter Bertin commented, "I am extremely pleased with these quarterly results that are the result of an expansion dynamic that had already begun in the second half of last year. Even in a socio-economic context that continues to show elements of complexity, the Labomar Group has been able to deal effectively with the difficulties related to supply chains, maximizing synergies with the perimeter companies both for a geographic business development and for the proposal of new references. We look to the second half of the year with caution, given the heavy impact of inflation and its effects on consumer spending capacity. Therefore, we expect a consolidation phase of the results achieved so far."

Labomar is unchanged at EUR8.75 per share.

By Claudia Cavaliere, Alliance News reporter

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