Italian luxury group Brunello Cucinelli on Wednesday raised its sales growth guidance for 2023 to 15%, up from its previous estimate of 12%, on the back of a strong start to the year and significant orders for coming seasons.

The brand known for cashmere clothing posted earnings before interest and taxes (EBIT) at 134.4 million euros ($141.6 million), above a 133 million euros analyst forecast based on a SmartEstimates consensus provided by Refinitiv.

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Brunello Cucinelli proposed the distribution of a dividend of 0.65 euros per share.