MILAN — Fininvest Spa, the holding company of Italy’s incoming prime minister Silvio Berlusconi, has posted a 635 billion lire ($280 million) profit for 2000, up from $120 million in 1999.
Sales were $4.8 billion, up from $3.4 billion.
Fininvest – which spans media, publishing, insurance and property, and is 100% controlled by the Berlusconi family through a complex financial structure of 22 holding companies – has a majority stake in Italy’s leading TV group Mediaset and owns all of film producer-distrib Medusa.
Company described the results as the best in its history said that its strategy had been to focus on communications and entertainment.
Berlusconi, whose center-right political coalition won Italy’s May 13 federal election, is in the process of forming a new cabinet.