Prada H1 net revenues up 22%
The group ‘retains the ambition’ to deliver solid, sustainable and above-market growth for the full year
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Prada has announced that its net revenues for the six months ended 30 June were €2.23bn (£1.92bn), up 22% compared with the same period last year.
Alongside this the company posted an EBIT of €491m (£421m), an increase of 22% from the €304m (£261m) it posted last year.
The company’s retail sales were up 21.1% compared with the first half of 2022, at constant exchange rates.
This meant that the net income for the group was €305m (£262m) up from €189m (£162m) in the previous year.
Prada stated that all regions except the Americas showed double-digit growth over the first half of 2023.
At constant exchange rates Japan grew 49.2%, Asia Pacific was up 25.3%, Europe was up 24.2%, the Middle East 13.5% but the Americas was down 1%.
The group “retains the ambition” to deliver solid, sustainable and above-market growth for the full-year.
This is considering a more challenging basis of comparison in the third quarter, and a fourth quarter 2022 that was again impacted by new Covid restrictions in Asia.
