FRANCE: PPR luxury brands boost 2012 profits
- Net income increased 6.3% to EUR1.05bn
- Revenue grew 20.8% to EUR9.7bn
- Luxury operating income grew 27.6% to EUR1.6bn
PPR is confident of continued growth in 2013, after posting a rise in 2012 net profit as strong sales of its luxury brands offset weakness in its sports division.
The company, which owns the Gucci, Yves Saint Laurent and Puma brands, today (15 February) said net income rose 6.3% during 2012 to reach EUR1.05bn (US$1.40bn) from EUR986m last year. Revenue grew 20.8% to EUR9.74bn.
Operating income in its luxury division rose 27.6% to reach EUR1.6bn as sales increased 21.2% to EUR6.2bn. On a comparable basis, sales increased 13.9%
However, operating income in its sports and lifestyle division fell 12.1% to EUR304.8m, with a 13% decline in Puma to EUR290m. Sales rose 10.6% to EUR3.5bn, and were up 7.6% on a comparable basis.
"PPR's results for 2012 are excellent, thanks to the exceptional performances of all brands in our Luxury Division," said chairman and CEO François-Henri Pinault.
"The significant growth potential of our brands is driven by their strength, the outstanding quality of their products and the rigorous development of their distribution channels. This potential was once again demonstrated in our luxury division in 2012 and we are striving to achieve the same dynamic in the sport & lifestyle division. Our strong performance also highlights the good geographic balance of our activities and the consistency of the group's strategy. In 2012, we completed further important steps in our transformation into a more international, dynamic and profitable group. We are confident that the strengthening of our assets and the determination of our teams will allow us to continue significantly improving our operating and financial performances in 2013."
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