Margin strength fuels Safilo shares
BUZZ-Margin strength fuels Safilo shares ** Shares in Safilo SFLG.MI surge 14% after the Italian eyewear company reported its H1 results with better-than-expected margins
** It posted quarterly net profit of €44.4 million ($51.24 million) on Tuesday evening, up 6.5% year-on-year, driven by margin expansion and one-off tariff refunds
** The refunds totalled €22.2 million for the duties previously paid in the United States, it said
** Equita raises its PT to €2.1 per share, citing margins above expectations and a "very positive" cash position, albeit also noting weak Q2 revenues declining in all geographies
** The brokerage sees margins further improving in H2, and signs of recovery in sales from June and July, especially in North America
($1 = 0.8665 euros)
(Reporting by Mirko Miorelli)