Kering, the French holding Group of labels like Alexander McQueen, Balenciaga, Brioni, Gucci, Puma, Volcom, Saint Laurent Paris, and other luxury, sport & lifestyle brands, has announced its financial results for the first six months of the current fiscal year.
In the period under review, the company noted an increase in net income to € 465 million as compared to € 423 million in the previous year, while adjusted for non-recurring items net of tax, net income surged by 6.5 per cent to € 521 million. The gross margin of the company rose by 6 per cent to € 3,602 million in the reporting period.
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According to Kering, Western Europe, Japan and other emerging markets resulted in solid revenue growth in the reporting period despite the negative impact of exchange rate fluctuations on revenue. Revenue generated outside the Euro zone signified 78 per cent of the consolidated total revenue in the first six months of 2016. Consolidated revenue in the first half of the year reached € 5,693 million, up 3.3 per cent Y-O-Y on a reported basis and 5.5 per cent on constant currency basis.
Also, recurring operating income increased by 4.9 per cent in the review period. EBITDA reached € 1,011 million, up 4 per cent year-over-year.