Piaggio Net Income Up 26.3% in First Half

Piaggio & C SpA said net income for the six months ended June 30 was Euro 64.4 million, up 26.3 percent from net income of Euro 51.0 million for the same six months of the prior year.
Aided by the launch of new units from Aprilia and Moto Guzzi as well as an increase in sales of light commercial vehicles in Europe and in India, the Italian manufacturer’s sales were Euro 903.3 million, up 10.9 percent from Euro 814.3 million a year earlier.
First half EBITDA rose 9 percent to Euro 135 million; operating profit was Euro 92.7 million, up from Euro 78.4 million.
Piaggio Chairman Roberto Colaninno said the company plans to focus on operations in India, China and North America in 2007.
Piaggio & C. SpA was listed on the Milan stock exchange, Borsa Italiana, on July 11.

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