Luxury goods giant Prada Holding NV has posted a second quarter operating profit of 8.2 million euros compared to a loss of 1.5 million euros in 2001 amid higher sales and tighter cost controls.

The company, which called off its IPO in June, said its consolidated net sales climbed 12 per cent to 352.1 million euros from 315.8 million euros in 2001, with leading brand sales growing 20 per cent in Europe and 18 per cent in the US.

It added for the first half, its profit halved to 37.8 million euros and revenue fell 4.7 per cent to 761 million euros.