Italy’s Prada Group made an operating profit in its last financial year that exceeded its own forecast, thanks to a rise of more than 14% in retail network sales.
The group said that preliminary figures showed its operating profit for the fiscal year ended Jan. 31 improved from the previous year but it gave no details.
Operating profit was better than its own forecasts that it made when its budget was completed, it said. Prada invested more than 120 million euros ($163.9 million) last year in its development plan, which was self-financed.
In the previous year Prada made a net profit of 99 million euros, down 22% from the year before, on revenue of 1.65 billion euros.