Prada S.p.A. (PRDSF.OB) on Thursday reported higher revenue and profit for the year ended December 31, driven by continued brand demand and solid operational performance despite a challenging market environment.
For the full year, net revenues increased to EUR 5.72 billion from EUR 5.43 billion in the prior year. Adjusted EBIT rose to EUR 1.32 billion compared with EUR 1.28 billion a year earlier, representing 23.2 percent of net revenues.
EBIT totaled EUR 1.30 billion, down slightly in margin terms to 22.7 percent of revenue from 23.6 percent in the previous year.
Profit increased to EUR 851.9 million from EUR 838.9 million in the prior year. Basic and diluted earnings per share rose to EUR 0.333 from EUR 0.328.
PRDSF is currently trading at $5.18, up $0.17 or 3.39 percent on the OTC Markets.
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