Market Overview

Prada Net Profit Declines 28%


Prada S.p.A. (OTC: PRDSY) reported a 28% decline in its net income for the year ended January 31.

Prada's net income slipped to 450.7 million euros (US$491 million), compared to EUR627.8 million, in the year-ago period.

Its revenue fell 1% to EUR3.55 billion. Asia Pacific sales dropped 3.1%.

Its revenue for the three-month period ended Jan. 31 shrank to EUR999.7 million, versus EUR1.01 billion in the year-ago period.

Prada's board proposed a final dividend of 11 euro cents a share.

Prada's shares gained 0.39% to close at $13.00 on Friday.


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