Prada sales rose 17% last year, driven by Asia, Miu Miu brand
Reuters
Published Mar 07, 2024 07:46AM ET
MILAN (Reuters) - Net revenues at Italian luxury group Prada (OTC:PRDSY) rose 17% at constant exchange rates last year, broadly in line with analysts' expectations, driven by growth in Asia and the outstanding performance of its Miu Miu brand.
The group said on Thursday net revenues totalled 4.7 billion euros ($5.1 billion) last year, after a "very positive" fourth quarter which also showed a 17% sales increase.
In 2023 as a whole, sales in the Asia Pacific area rose 24%, Europe grew 14% after slowing down in the second half, and sales in the Americas were flat.
Prada's adjusted operating profit rose 26% to 1.06 billion euros last year.
"As with 2023, while quarterly growth trajectory may not be linear through the year, we retain our firm ambition of delivering solid, sustainable, above-market growth," Prada's Chief Executive Andrea Guerra said in the statement.
The group, which owns the eponymous brand as well as Miu-Miu, Church's and Car Shoe, proposed a divided of 0.137 euros per share. ($1 = 0.9174 euros)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.