The Industrial Margin during the quarter ended September 30, 2012 was equal to 35.3% on total net sales, up from 29.6% reported last year. Such improvement was the result of different factors such as the increase in the average price per seat and a more efficient production process.During the third quarter 2012, the incidence of selling expenses (transportation, commissions to agents and advertising) on total net sales was 17.1% from 16.3% reported in 2011 third quarter. More specifically, the incidence of transportation costs on net sales was 10.9% in third quarter 2012 from 10.1% reported for 2011 third quarter, due to relatively more shipments towards the Americas and more sales of medium/low-end products (Private Label); the incidence of commissions to agents passed from 1.8% to 2.4% in third quarter 2012 as consequence of a higher weight in sales from the Americas. The percentage of advertising costs on total net sales decreased, passing from 4.4% in 2011 third quarter to 3.9% in the third quarter of 2012.
Natuzzi S.p.A. Third Quarter And First Nine Months 2012 Financial Results
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