ITALY: Prada FY profit rises 63% to EUR76m
Italian fashion house Prada, which is considering an IPO some time in 2008 to fund growth, said net profit rose 63% in 2006 to EUR76m ($103.9m).
In the full-year, sales rose 8.2% to EUR1.425bn.
The company said in a statement that cost control and "a more favourable product mix" were behind the growth, with leather goods and shoes representing 65% of sales, garments 34% and licenses 1%.
Net debt dropped 14% to EUR496m at the end of December, from EUR577m a year earlier.
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