Prada 2017 Net Profit Falls, Revenue Declines
09 Março 2018 - 11:02AM
Dow Jones News
By Euan Conley
Prada SpA (1913.HK) said Friday that net profit fell 4.3% in
2017, while net revenue dipped 3.6%.
Net profit for the 12 months ended Dec. 31 was 248.9 million
euros ($307.8 billion), compared with EUR260.2 million a year
earlier.
Full-year revenue stood at EUR3.06 billion, down from EUR3.17
billion in the previous year. Retail sales fell by 7.7% at current
exchange rates, while sales of leather goods fell by 5.1%, the
Italian fashion house said.
The Hong-Kong listed company also posted declining sales across
all of its geographical markets.
Prada said its management was confident that the year to come
would mark the beginning of a sustainable long-term growth
period.
The 2017 figures have been adjusted for a 12-month period after
the company changed its year end from Jan. 31.
For the 11-month period ended Dec. 31, the company posted net
profit of EUR217.7 million and revenue of EUR2.74 billion.
It also declared a dividend of 7.5 European cents a share.
Write to Euan Conley at euan.conley@dowjones.com
(END) Dow Jones Newswires
March 09, 2018 08:47 ET (13:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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