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PPR Group H1 underlined with rising sales of luxury goods

Sep '05
Luxury Goods business leader PPR Group announced the 2005 half-year results.

- Recurring operating income up 11.3%

- Sharp increase in Luxury Goods results

- €70 million improvement in free cash flow from operations

On September 7, 2005, PPR's Board of Directors met to examine the Group's financial statements for the six months ended June 30, 2005, certified by the Statutory Auditors.

François-Henri Pinault, Chairman and Chief Executive Officer of PPR, said:
'PPR's strong results underscore the relevance of their strategy and business development model. Thanks to its positioning on two activities - the rapidly growing global Luxury Goods universe, and stable, mature Retail markets - the Group enjoys a higher profitability profile than that of the markets in which it participates.

Luxury Goods posted excellent first-half results, notably at Gucci and Bottega Veneta, with double-digit growth rates, thereby outperforming its main competitors over this period. In Retail, strong performance at Redcats and Fnac offset Conforama's lower results in a challenging European environment. The PPR Group is particularly well positioned to further improve its performance, as the positive trends of July and August clearly indicate.'

Growth in sales
In the first half, Group sales increased by 3.1 percent to €8,094.4 million. This excellent performance reflects the soundness of PPR's positioning in its core business lines and strategic choices. The Retail division reported a satisfying first half. Sales rose by 1.6 percent to €6,755.5 million. Retail sales outside France, up by 2.6 percent to €2,976.5 million during the period, helped to offset the impact of sluggish consumer spending in France.

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