By Sara Gay Forden
Nov. 13 (Bloomberg) — Bulgari SpA, the world’s third- largest jeweler, scrapped its forecast for increased profit this year as the financial crisis prompted the world’s wealthy to halt purchases of Diagono watches and Elisia necklaces.
Third-quarter net income dropped 44 percent to 23 million euros ($29 million) from 41 million euros a year earlier, the Rome-based company said in a statement today after stock trading ended. That missed the 37.5 million-euro median estimate of eight analysts compiled by Bloomberg. Revenue was little changed at 256.2 million euros, also missing the 270.3 million- euro median estimate. Read more about Bulgari Cuts Profit, Sales Outlook on Slumping Demand (Update1) …