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.