OTB Group revenues drop 2.4 percent but EBIT expands to 21.5 mn euros

The OTB Group founded by Renzo Rosso, reported a 2.4 percent decrease in turnover at constant exchange rates to 1.52 billion euro (1.87 billion dollars), reports MF Fashion. Quoting the company statement, the report said, overall increase in margins, together with cost optimization actions, led the company to achieve EBIT of 21.5 million euros (26.3 million dollars) against the 5.1 million euros (6.2 million dollars) in the previous year, an increase of over 16.4 million euros (20.1 million dollars).