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Prada’s annual revenue increase for the first time in four years

Annual revenues for Italian luxury group Prada increased for the first time in four years, although sales growth slowed in the second half of 2018. Full-year sales of the group increased 6 per cent at constant exchange rates to €3.142 billion compared to a 9.4 increase in the first six months. Earnings before interest and taxes (EBIT) declined 10 percent to €323.8 million. Analysts had expected revenues of €3.17 billion revenues and an EBIT of €377 million, according to Refinitiv data.

The Milan-based but Hong-Kong listed company, jointly run by Miuccia Prada and Patrizio Bertelli, plans to revive its sales.