Prada reports declining accounts in its first fiscal half year ended July 31st. Net profit decreased by 18,4% compared to the same period of the previous year, settling at 115,7 million euros. Also net sales recorded a decrease of 5,7% settling at 1,442 billion. Royalties decreased by 4,7% to 26,1 million. the net financial position at the end of July was negative by 223,4 million, after the payment of dividends to shareholders for 307,1 million.
The number one of the Prada group, Patrick Bertelli, during the conference call with analysts, spoke of 'excellent prospects' for the fashion company, which he underlined is 'a global organization'. And this despite international geopolitical tensions. The entrepreneur declared that 'actions to support growth' will be implemented, adding: 'we are confident in our abilities'. The strategy and investments, however – continued Bertelli – will be fine-tuned day by day, but 'always bearing in mind that the focus will be' to create value for our shareholders'.
