BELGIAN luxury lingerie concern Van de Velde declared first half results that showed its progress is being maintained. In like-for-like terms, consolidated sales rose by 2.7 per cent, to EUR 115.7m, REBITDA rose by 7.1 per cent, to EUR 38.5m, and net earnings rose by 4.5 per cent, to EUR 32.8m before tax. It was also revealed that wholesale orders for H2 2016 were higher than a year earlier. Retail operations in the US continued to give cause for concern, however.
Sustained demand for luxury merchandise in Europe should allow consolidated annual results to continue to remain positive.