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Bottega Veneta registers strong growth at PPR H1
03 Sep '07
3 min read
François-Henri Pinault, Chairman and Chief Executive Officer, stated: “These excellent operating and financial results confirm the strength of our brands and companies as well as the soundness of our strategy, aimed at enhancing our growth and profitability profile."
"The first half was also marked by the successful acquisition of Puma, a move which is at the very core of our strategy. Our strong performance strengthens our determination to further improve the Group's financial results and increase value creation in 2007.”
PPR recorded revenues of €9,240 million in H1 2007, up 11.4% on an actual basis or up 5.6% on a comparable basis, compared to H1 2006.
Revenues include Puma sales fully consolidated from April 1, 2007. Excluding Puma, Group revenues in the first half were up by 5.7% at comparable structure and exchange rates.
Group recurring operating income stood at €630 million, up 40% over H1 2006. Recurring operating income margin rose sharply, by 1.4 point, to 6.8% of revenues.
On a pro-forma basis (including Puma over six months), the Group's recurring operating come margin would have been 7.7% in H1 2007.
Excluding Puma, recurring operating income rose by 26.5% and recurring operating income margin stood at 6.5%. This sharp increase was driven by jumps in recurring operating income at Fnac (+22%), CFAO (+30%) and across all Gucci Group brands (+55%).
The strongest increases in Luxury Goods were recorded by Bottega Veneta (recurring operating income more than doubled), Yves Saint Laurent (losses significantly reduced) and YSL Beauté.
"The first half was also marked by the successful acquisition of Puma, a move which is at the very core of our strategy. Our strong performance strengthens our determination to further improve the Group's financial results and increase value creation in 2007.”
PPR recorded revenues of €9,240 million in H1 2007, up 11.4% on an actual basis or up 5.6% on a comparable basis, compared to H1 2006.
Revenues include Puma sales fully consolidated from April 1, 2007. Excluding Puma, Group revenues in the first half were up by 5.7% at comparable structure and exchange rates.
Group recurring operating income stood at €630 million, up 40% over H1 2006. Recurring operating income margin rose sharply, by 1.4 point, to 6.8% of revenues.
On a pro-forma basis (including Puma over six months), the Group's recurring operating come margin would have been 7.7% in H1 2007.
Excluding Puma, recurring operating income rose by 26.5% and recurring operating income margin stood at 6.5%. This sharp increase was driven by jumps in recurring operating income at Fnac (+22%), CFAO (+30%) and across all Gucci Group brands (+55%).
The strongest increases in Luxury Goods were recorded by Bottega Veneta (recurring operating income more than doubled), Yves Saint Laurent (losses significantly reduced) and YSL Beauté.
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