Italian shoemaker Geox SpA (GEO.MI) said Thursday its first- quarter net profit fell a better-than-expected 18.9% to EUR43.4 million as its margins were hit by rising raw material and labor costs and currency fluctuations, factors that will continue to pose challenges in 2011.

The company posted a 3.7% rise in revenue to EUR345.4 million and said fall/winter 2011 orders are up 8% compared with fall/winter 2010 orders.

  MAIN FACTS:

-Ebitda fell to EUR79.2 million compared to EUR93.6 million in the first quarter of 2010.

-Ebit fell to EUR68.9 million from EUR83.7 million.

-Forex, raw material prices, labor costs in supplier countries will continue to put pressure on margins in the second half of 2011.

-Earnings per share fell to EUR0.17 from EUR0.21.

-By Sofia Celeste, Dow Jones Newswires, +39 06 69766923; sofia.celeste@dowjones.com

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