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By
Reuters API
Published
Jul 28, 2022
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Prada sales rise 22% in first half, beating expectations

By
Reuters API
Published
Jul 28, 2022

Italy's Prada posted a 22% growth in first half sales, above market estimates, with lockdowns in China and the conflict in Ukraine offset by the strength of Europe, United States and the Far East.


Prada - Fall-Winter2022 - Womenswear - Milan - © PixelFormula



Revenues at the luxury group, listed in Honk Kong, totalled 1.9 billion euros ($1.92 billion) compared with 1.8 billion euros expected by analysts according to a Refinitiv consensus.

Earnings before interest and taxes (EBIT) jumped to 305 million euros from 166 million euros in the first six month of last year and compared to a consensus estimate of 287 million euros.

"Despite the highly uncertain global macro-economic environment, current trading remains strong and first half results accelerated the group's trajectory towards the mid-term targets", the company said.
 

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