Italian clothes maker Benetton today revealed net profit of €23 million in the first quarter of 2005 in what was a 16.9 per cent fall from the same period last year.
The group said in a statement sales edged down 0.8 per cent to €378 million, from €381 million last year.
In March, Benetton forecast another fall in sales in 2005 after weak 2004 revenues punished its share price.