Kering H1 Profit From Cont. Ops. Declines; Revenue Down 29.6%

Kering (PPRUY.PK,PPRUF.PK) reported that its first half net income from continuing operations declined to 286.4 million euros from 648.1 million euros, prior year. Earnings per share from continuing operations was 2.27 euros compared to 4.96 euros. Recurring operating income was 952.4 million euros, down 57.7% from previous year. Excluding non-recurring items, earnings per share from continuing operations was 4.55 euros compared to 12.37 euros.

First half revenue declined to 5.38 billion euros from 7.64 billion euros, previous year. Consolidated revenue was down 29.6% as reported and down 30.1% based on comparable Group structure and exchange rates.

Second quarter consolidated revenue was 2.18 billion euros, down 43.5% as reported and 43.7% on a comparable basis.

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