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Excellent performance in 2011, PPR
21
Feb '12
PPR Group releases their financial results for the year 2011.

Highlights:
• Recurring net income, Group share up 26.4%
• Recurring operating income up 16.9%
• Revenue up 11.1%

François-Henri Pinault, Chairman and Chief Executive Officer, commented: "PPR's results for 2011 are excellent. They reflect the compelling appeal of our brands, the peerless quality of our products and the unerring commitment of our employees. Thanks to our Group's unique combination of attributes, we can look to the future with confidence. Our Luxury and Sport & Lifestyle brands command leading positions in the fastest-growing segments of the apparel and accessories market and are well placed to respond to and anticipate new consumer trends in both mature markets and emerging countries.”

“The transformation of PPR into a more cohesive, integrated group will make us stronger and enable us to fully exploit the huge growth potential of each of our brands. In the uncertain economic climate of early 2012, the core strengths underpinning PPR's robust 2011 results will continue to propel our performance this year. PPR is confident that 2012 will be another year of sustained revenue growth and improvements in our operating and financial performances."

Revenue in the last three months of 2011 climbed 11.2% as reported and 7.7% on a comparable basis versus the same period of 2010. The combined revenue figure for the Luxury and Sport & Lifestyle divisions was 17.3% higher in full-year 2011 than in 2010 based on comparable data (20.2% as reported).

In the fourth quarter of 2011, combined revenue growth for these divisions came in at 16.6% on a comparable basis (23.4% as reported). The main financial indicators for 2011 as a whole reflect the Group's highly satisfactory performance during the year. Consolidated revenue from continuing operations amounted to €12,227 million in 2011, up 11.1% on 2010 as reported and 9.3% based on comparable Group structure and exchange rates.

In 2011, the Group continued to expand the proportion of its revenue generated by international operations, which rose to 72.6% of the Group total during the year versus 69.5% in 2010 (on a comparable basis).

PPR continued its expansion in emerging economies, where in 2011 revenue generated by the Group's Luxury and Sport & Lifestyle divisions advanced 25.2% on a comparable basis and accounted for 36.8% of these divisions' total revenue in 2011, representing a 230 basis-point increase on 2010 (based on comparable data). The Asia-Pacific region (excluding Japan) was one of the main contributors to these brands' sales during the year, representing 24.3% versus 22.5% in 2010 (based on comparable data).

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PPR Group

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