BENETTON SEES HIGHER PROFIT, SALES IN 1987
Italian fashion conglomerate Benetton
Group Spa <BTOM.MI> expects its net profit to rise to around
135 billion lire in 1987 from 113 billion the year before, Aldo
Palmeri, managing director of Benetton Group, said.
    Palmeri told a presentation here that sales should increase
to between 1,280 and 1,300 billion lire in 1987 from 1,079
billion in 1986, of which foreign sales were expected to take
up 850 billion lire.
    Benetton finance director Carlo Gilardi said the company
was planning to diversify further into the financial services
sector and would also expand into the shoe business.
    Benetton expanded into financial services mainly to speed
up the development of its own systems, Gilardi said. Benetton
has 400 sub-contractors and 600 distributor companies which
created a demand for such services. "But we do not plan to
abandon our traditional business," Gilardi said.
    Benetton plans to expand further outside Italy, especially
in the Far East. Talks are under way over a possible joint
venture with the Soviet Union and with South Korea.
    Palmeri said Benetton plans to list its shares in
Frankfurt, London, New York and Tokyo as part of its global
expansion but gave no dates when the listings would take place.
 Reuter
