Luxury, Kering closes 2016 on a high note. The French group (Lvmh's rival) closed the year with sharply growing revenues and operating profit, so much so that the board of directors intends to propose an increase in the dividend to the shareholders' meeting.
Revenues, according to a press release from the French group, rose by 8,1% organically, to 12,38 billion euros.
Operating income from ordinary activities amounted to 1,886 billion (+14,5%).
According to a Reuters survey, carried out together with Inquiry Financial, analysts estimated sales of 12,28 billion and an operating profit of 1,83 billion.
The Gucci brand made a noteworthy contribution to Kering's results, accounting for 60% of profits: comparable sales increased by 21,4% in the fourth quarter, beating estimates (+13%).
The BoD resolved to propose to the shareholders the distribution of a dividend of 4,50 euro per share (+15%).
