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Kering FY18 Profit More Than Doubles - Quick Facts

French luxury goods company Kering SA (PPRUY.PK,PPRUF.PK) reported that its 2018 net income, Group share, increased 108.1 percent to 3.71 billion euros from 1.79 billion euros in the prior year. Earnings per share, Group share rose to 29.49 euros from 14.17 euros last year.

Net income from continuing operations, excluding non-recurring items, Group share, surged 49.3 percent from last year to 2.82 billion euros. Earnings per share grew to 22.36 euros from 14.97 euros prior year.

Recurring operating income increased 46.6 percent to 3.94 billion euros from 2.69 billion euros a year ago. Consolidated recurring operating margin advanced 400 basis points year-on-year to 28.9 percent.

Consolidated revenue for the year grew 26.3 percent to 13.67 billion euros from 10.82 billion euros last year. Revenue increased 29.4 percent on a comparable basis.

Gucci's revenue topped 8 billion euros in 2018, rising 33.4 percent as reported and 36.9 percent on a comparable basis to 8.28 billion euros.

Yves Saint Laurent sales for the year rose 18.7 percent on a comparable basis and 16.1 percent as reported. Bottega Veneta's revenue in 2018, a year shaped by the arrival of a new Creative Director, was down 3.4 percent on a comparable basis and 5.7 percent as reported.

The company also recorded very strong momentum at Kering's Other Houses, with sales up 32.1 percent on a comparable basis, powered by Balenciaga and Alexander McQueen.

At its February 11, 2019 meeting, Kering's Board of Directors proposed to ask shareholders to approve a cash dividend of 10.50 euros per share for 2018 at the Annual General Meeting to be held on April 24, 2019 and to approve the financial statements for the year ended December 31, 2018.

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