Italian jewellery group Damian iSpA (Milan, Star:DMN) Damiani recorded a loss of 8.7 million euros in the 2013/14 financial year ended March 31, a slight increase from the previous year's 8.4 million euro loss; operating loss From the previous year's 5.8 million euros to 3.8 million euros; core earnings EBITDA of 300,000 euros, the previous year was -2.2 million euros.
The annual revenue increased by 4.8% to 144.3 million euros, driven by a 14.2% increase in retail channel sales. The growth rate was 7.7% at constant exchange rates, while wholesale channel sales decreased slightly by 0.6% year-on-year, accounting for more than 60% of total revenue.
As of March 31, the Group's 54 direct-operated boutiques worldwide had a net increase of 8 stores; net debt increased from 33 million euros last year to 40.8 million euros.
Damiani SpA (Milan, Star: DMN) 玳美雅 reached an agreement with the union on the 6th of this month to temporarily cut down to 44 employees. The group employs 600 people worldwide.
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