Prada First-Half Net Profit Rose 11% on Higher Sales
02 Agosto 2018 - 11:56AM
Dow Jones News
By Alberto Delclaux
Prada SpA (1913.HK) reported an 11% rise in first-half net
income, while sales at constant exchange rates grew in all
regions.
The Italian luxury company said Wednesday that its net profit
for the period increased to 105.7 million euros ($123.8 million)
from EUR95.4 million the year earlier, as revenue rose 3.3% to
EUR1.54 billion. At constant exchange rates, revenue growth was 9%,
Prada said.
Performance was particularly strong in the Asia Pacific region,
with sales up 14% at constant currency.
The company said Europe recorded positive trends despite weaker
tourist inflow, with constant currency sales growth of 7%.
"We are always working to reshape the Prada Group to adapt to
the rapid changes in society and to interpret the spirit of new
generations without losing our brand integrity," said Chief
Executive Patrizio Bertelli.
"The results of this transformation are visible and supported by
many positive signs from the market, confirming the soundness of
our strategic choices."
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
August 02, 2018 05:41 ET (09:41 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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