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Belgian Van de Velde sales rise 9% Y/Y in H1 2011.

(SeeNews) - Jul 8, 2011 - Belgian lingerie maker Van de Velde NV (EBR:VAN) generated sales of EUR 86.2 million (USD 123.5m) in the first half of 2011, an increase of 9% in annual terms.

The company said on Friday the autumn/winter collection deliveries in June 2011 were higher than in the same month of the previous year.

With the turnover of US subsidiary Intimacy included, the company's first-half sales came in at EUR 97.8 million, a growth of 17.3% on the year, but only two months of Intimacy figures were recognised in the first half of 2010.

Van de Velde expects a growth in sales of between 2% and 3% in the entire 2011, not including Intimacy.

(EUR 1 = USD 1.432)
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Publication:ADP News Belgium
Article Type:Financial report
Date:Jul 8, 2011
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