Shares in French luxury group PPR leap after Puma boosts profit
today Aug 31, 2007
PARIS (AFP) - Shares in the French luxury goods empire PPR shot up in opening trades Friday, August 31st on strong first-half results following its purchase of German sportswear group Puma.
A woman walks past a Puma store in Berlin, Germany - Photo : AFP
PPR shares leapt by 3.85 percent to 126.54 euros on the Paris stock exchange, while the CAC 40 index of leading issues gained 0.78 percent.
In the first six months of 2007, PPR recorded a net profit of 326 million euros (445 million dollars), a bound of 142.9 percent from the same period a year earlier.
The group, which owns brands such as Gucci and Yves Saint Laurent, took a 62.1-percent controlling stake in Puma in July.
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