Prada's first-half sales rise less than expected, profitability jumps

Prada SpA

27/07/2023 12:33

MILAN, July 27 (Reuters) - Italy's Prada  1913.HK 
posted 20% growth at constant exchange rate in first half sales,
slightly below consensus, but profitability jumped by more than
expected. 
    Revenues at the luxury group, listed in Honk Kong, totalled
2.232 billion euros ($2.49 billion), boosted by Asia and Europe
and despite lower retail sales in the Americas.
    Analysts expected 2.275 billion euros, according to a
consensus of analysts drafted by Reuters.
    Adjusted earnings before interest and taxes (EBIT) jumped to
491 million euros from 305 million euros in the first six month
of last year and compared to analysts' estimate of around 460
million euros.
    
    
($1 = 0.8972 euros)

 (Reporting by Elisa Anzolin, editing by Alvise Armellini)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))