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Healthy luxury goods sales at PPR

14
Mar '06
Luxury goods retailer PPR Group released the annual results for 2005. François-Henri Pinault, Chairman and CEO of PPR, stated: “Once again, PPR's results underscore the relevance of our strategy and positioning.”

Organic growth in all our businesses generated a sharp rise in cash flow. More balanced, more international and more efficient, we are confident in the Group's further success in 2006.

The strength of its brands and retail concepts on higher growth market segments should enable PPR to post strong improvements in its operating performances.

Operating performance: strength of Luxury Goods, healthy results of Retail PPR revenues for 2005 amounted to € 17,766 million, up 4.2 percent over the 2004 level. On a comparable Group structure and exchange rate basis, revenues were up 4.8 percent.

Recurring operating income amounted to € 1,084 million, up 9.9 percent. Recurring operating income margin improved by 0.3 point to 6.1 percent of total revenues.

The rise in recurring operating income reflects the sound operating profitability in the Retail activities and outstanding performance in Luxury Goods despite the unfavorable impact of exchange rate fluctuations. At constant exchange rates, PPR's recurring operating income grew by 19.1 percent.

Retail activities recorded comparable revenue growth of 2.8 percent. Stable recurring operating income, at over € 750 million, reflects contrasting trends across businesses. All Retail companies, with the exception of Conforama, posted healthy performances in France and abroad. The Group also confirmed its leading position in e-commerce.


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