Lorenzo International, the retailer and exporter of lifestyle furniture, has reported earnings of $2.6 million for the six months ended 30 June 2010 (1HY2010) compared to a loss in 1HY2009.

Group revenue increased 0.7% to $40.9 million in HY2010 from $40.6 million in HY2009 primarily driven by a strong retail segment.

The retail business segment remains as the group’s key revenue contributor, registering a 14% increase to $31.1 million in HY2010 from S$27.5 million in HY2009, as robust demand continues from key markets of Singapore, Malaysia, Taiwan and China.

The export segment remained subdued in HY2010, declining by 34.7% as compared to HY2009 as sales of products to markets affected by the uncertain US market and countries hit by the euro debt crisis slowed.

Revenue from the Licensing Retail System (LRS) segment increased 11.5% to $2.4 million in HY2010, despite a decline in the number of LRS stores in China.