(Alliance News) - Gentili Mosconi Spa reported Thursday that it closed the first half of the fiscal year with a net profit of EUR3.8 million, up from EUR3.4 million in the same period last year.

Revenues for the first half of the year were EUR27.3 million, up 4.2 percent from the same period in FY2022, when they were EUR26.2 million, with the most significant increase in the Fashion Textile Accessories and Home Textile Accessories business lines.

Adjusted Ebitda rose to EUR5.4 million from EUR4.8 million a year earlier while adjusted operating income increased to EUR4.9 million from EUR4.3 million.

Solid cash generation from core operations at EUR5.1 million from EUR4.4 million in the first half of 2022.

Net financial debt increased to EUR16 million as of June 30 from the negative balance of about EUR300,000 as of Dec. 31, 2022 due to the capital increase at the IPO in the amount of EUR15 million.

Gentili Mosconi's stock closed Thursday up 1.8 percent at EUR3.35 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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