MILAN — Prada SpA is growing again.
In the first six months of the year, all markets and product categories helped the Italian company post an 11 percent rise in net profits, which reached 106 million euros.
In the six months ended June 30, revenues climbed 3 percent to 1.5 billion euros. At constant exchange rates, sales grew 9 percent.
“Prada Group achieved very satisfactory results in the first half of 2018 with revenue growth across brands, markets and products, along with margin progression, despite continued investment in product quality and innovation, visibility of the brands and the digital evolution,” Bertelli said. “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. Today the results of this transformation are visible and supported by many positive signs from the market, confirming the soundness of our strategic choices. We will continue our path of sustainable growth, based on the creative leadership of our brands and the attractiveness of our retail network, where we see great potential to be unlocked through integration with digital technologies. I am confident that this new phase of growth will be translated into value creation for all Group stakeholders.”
The 2017 financial data reported is the six-month pro-forma data from January to June.