Net revenue for fiscal ended January 31, 2017, at premium fashion goods retailer Prada Group slipped 9 per cent year on year on a constant currency basis to €3,184.1 million. Of this, sales from the retail channel slipped higher at 13 per cent to €2,634.9 million. However net sales increased by 15 per cent to €504.4 million in the wholesale channel.EBITDA in the period under review amounted to €653.4 million or 20.5 per cent of revenue as against 22.6 per cent of revenue in the previous fiscal.
Net income in fiscal 2017 totalled to €278.3 million or 8.7 per cent of revenue, which was also down from 9.3 per cent of revenue in fiscal 2016.
Net revenue for fiscal ended January 31, 2017, at premium fashion goods retailer Prada Group slipped 9 per cent year on year on a constant currency basis to €3,184.1 million. Of this, sales from the retail channel slipped higher at 13 per cent to €2,634.9 million. However net sales increased by 15 per cent to €504.4 million in the wholesale channel.
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During the fiscal, the group generated a strong operating cash flow of €632 million, up from €368 million in the earlier fiscal, primarily due to the efficient management of net working capital, in particular to the significant reduction in inventory levels. (AR)
Fibre2Fashion News Desk – India