By  on March 18, 2019

MILAN — Prada Group shares closed down 10.6 percent to 22.35 Hong Kong dollars, or 2.50 euros, on Monday on the Hong Kong Stock Exchange after the Italian fashion group on Friday reported a 17.6 percent fall in net profits to 205 million euros, compared with 249 million euros in 2017. The stock has lost about 36 percent over the past year.

The company has gone through a restructuring and its chief executive officer Patrizio Bertelli expressed his confidence in future growth as he commented 2018 figures, which showed a 3 percent increase in revenues to 3.14 billion euros last year, but a slowdown in the last quarter in Hong Kong and Macau and the additional investments necessary to turn the company around worried analysts.

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