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PPR first half beats forecasts Friday, 29th July 2011
The French retail and luxury group today posted forecast-beating first half sales and profits, thanks to the strong growth of its luxury brands in major emerging markets such as China.
The Gucci Group owner posted recurring operating income of EUR 749 million on revenues of EUR 7.22 billion to the six months to 30 June.
In comparison, a Reuters poll of ten analysts expected PPR to produce an operating profit of EUR 730 million on first half sales of EUR 7.12 billion.
PPR is set to hold a press conference later on today in which it will be questioned on its intent to acquire Roman tailor Brioni.