Prada recorded a net profit of 244,8 million in the first half-year ended July, down 20,6% compared to the same period in 2013. Revenues increased by 1,3% to 1,75 billion , while the ebitda fell by 10,6% to 492,8 million. At the end of the period, the company recorded a financial debt of 1,4 million, against a positive net financial position of 295,9 million at the end of January. In the second quarter alone, profit decreased by 17,9% to 139,5 million, against revenues up by 2,9% to 973,6 million and ebitda to 278,9 million (-10,1%) .
As for the prospects for the entire year, Prada expects a second half "substantially in line with the first". "Margins will continue to be under pressure with some marginal improvement from cost-cutting actions," it said in a statement. “Investments – continues the note – will be concentrated on strategic locations with high potential, while maximum attention will be paid to quality and creativity”.
