Benetton Off To A Flyer

Italian fashion group Benetton said on Tuesday its first quarter net profit rose to 19.1 million euros from 18 million euros in the year-ago period which also included extraordinary costs of five million euros.

In a statement, the company said revenues in the 13-week period fell to 446.8 million euros from 464.7 million euros, with income from its sports division hit by lower sales of in-line skates.

It added that it expects 2002 revenues to be in line with 2001 although "the current conditions of the market mitigate these expectations" and better margins would allow for "significant growth" in profit