Basicnet has announced a net consolidated profit of €10.3 million for 2016, down from €16.8 million in the previous year. The company owns brands such as Kappa, Robe di Kappa, K-Way and Superga, and licenses them in many territories outside its domestic Italian market. As previously reported, Basicnet's aggregated sales grew last year by 1.3 percent to €740 million, but its operating profit fell to €15.2 million from €25.7 million, due in part to higher marketing expenses. The management is predicting a positive development on a comparable basis for the first half of this year.

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