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MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Prada S.p.A.    1913   IT0003874101

PRADA S.P.A.

(1913)
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Prada 9-Months Net Profit Jumps 50% Amid Continued Strong Demand

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12/06/2012 | 07:12am EST

By Nadya Masidlover

Prada SpA (1913.HK) Chief Executive Patrizio Bertelli said Thursday that the company's business has continued to grow at a rate that has exceeded its expectations in recent months, as the luxury goods purveyor reported a strong rise in nine-month earnings figures amid resilient demand for ultra high-end goods.

Prada "has again shown that it has the necessary ability and spirit of initiative to generate positive results, even in the difficult current international economic climate," said Mr. Bertelli, without giving details regarding the company's outlook.

The Italian fashion group--home to brands like Miu Miu, Church's and eponymous label Prada--said Thursday that net profit jumped 50% on the year over the nine months ended Oct. 31 to 408.6 million euros ($535.3 million).

Sales over the period rose 35% to EUR2.34 billion, keeping more or less the same pace as in the first half of the year.

Prada's figures once again demonstrate how the pricier end of the luxury market continues to benefit from unflagging demand among the world's wealthiest shoppers, even as high-end brands with wider appeal have faced cooling sales growth in recent months.

A shift in demand in the all-important Chinese market has seen many consumers begin to turn toward the luxury industry's more exclusive names and extravagant price tags. The move has buoyed sales of costly handbags and watches made by labels such as Prada and peers Montblanc--owned by Compagnie Financiere Richemont SA (CFR.VX)--or Hermes International SCA (>> HERMES INTL).

Prada said in all of its markets it registered double-digit sales growth of above 20% at constant exchange rates over the nine-month period. Sales grew fastest in the Asia Pacific region, up 41%, boosted by Chinese consumers appetite for the company's prestigious accessories and garments.

Write to Nadya Masidlover at nadya.masidlover@dowjones.com

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Stocks mentioned in the article : HERMES INTL
Stocks mentioned in the article
ChangeLast1st jan.
HERMÈS INTERNATIONAL 0.88% 665.8 Real-time Quote.37.34%
PRADA S.P.A. 0.00% 28.75 End-of-day quote.12.30%
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Financials (EUR)
Sales 2019 3 216 M
EBIT 2019 316 M
Net income 2019 263 M
Debt 2019 182 M
Yield 2019 2,28%
P/E ratio 2019 31,8x
P/E ratio 2020 35,8x
EV / Sales2019 2,70x
EV / Sales2020 2,60x
Capitalization 8 499 M
Chart PRADA S.P.A.
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Prada S.p.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends PRADA S.P.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 2,86  €
Last Close Price 3,32  €
Spread / Highest target 15,2%
Spread / Average Target -13,8%
Spread / Lowest Target -49,4%
EPS Revisions
Managers
NameTitle
Patrizio Bertelli Co-Chief Executive Officer & Executive Director
Miuccia Prada Bianchi Co-Chief Executive Officer & Executive Director
Carlo Mazzi Chairman
David Terracina Chairman-Supervisory Board
Alessandra Cozzani Chief Financial Officer & Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
PRADA S.P.A.12.30%9 396
INDUSTRIA DE DISEÑO TEXTIL, S.A.29.40%99 527
KERING33.41%75 853
FAST RETAILING CO., LTD.18.15%60 015
ROSS STORES36.91%41 205
HENNES & MAURITZ52.18%33 396