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Kering FY17 Income From Cont. Ops. Rises; Revenue Up 27.2% On Comparable Basis

Kering (PPRUY.PK,PPRUF.PK) reported that its 2017 net income from continuing operations, Group share, increased to 1.79 billion euros from 825.1 million euros, prior year. Earnings per share from continuing operations totalled 14.22 euros, compared to 6.55 euros.

Recurring operating income hit a record high in the year, up 56.3% as reported to 2.95 billion euros. Recurring operating income for the Puma brand jumped 92.7% in 2017. Fiscal year net income from continuing operations (excluding non-recurring items), Group share came in at 2.00 billion euros, an increase of 56.2% year on year. Excluding items, earnings per share from continuing operations was 15.89 euros compared to 10.17 euros.

Fiscal year consolidated revenue was 15.48 billion euros, up 25.0% as reported and 27.2% based on a comparable Group structure and exchange rates. Revenue for the Luxury activities topped the 10 billion euros mark in 2017, up 29.9% year on year based on comparable data. Puma's revenue topped 4 billion euros for the first time, a rise of 15.8% on a comparable basis.

At its February 12, 2018 meeting, the Board decided to ask shareholders to approve a 6.00 euros per share cash dividend for 2017 at the Annual General Meeting to be held to approve the financial statements for the year ended December 31, 2017, up 30% year on year.

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