Earnings per share for H1 up 10% at luxury brands marketer Kering

Earnings per share for the first six months of 2016 at French luxury and high end fashion brands marketer Kering rose 10 per cent year on year to €3.69.

Net income for the first half of 2016 totalled €465 million as against €423 million in the year ago period, while adjusted for non-recurring items net of tax, net income rose 6.5 per cent to €521 million.

Consolidated revenue for the reporting period rose to €5,693 million, up 3.3 per cent year on year on a reported basis and 5.5 per cent in constant currency.

The marketer said exchange rate fluctuations had a negative impact on revenue during the period, but comparable revenue growth was solid led by the Western Europe, Japan and emerging markets.

According to the company, revenue generated outside the euro zone accounted for 78 per cent of the consolidated total revenue in the first six months of 2016.

The Group's gross margin for the reporting period was €3,602 million, up €202 million, or 6 per cent over the first-half of 2015.

Recurring operating income in the period under review increased 4.9 per cent over the same period of earlier year €811 million, while recurring operating margin amounted to 14.2 per cent.

EBITDA reached €1,011 million, up 4 per cent year over year, while EBITDA margin expanded 20 basis points on a reported basis to 17.8 per cent.