MILAN (Reuters) -Italian luxury company Brunello Cucinelli posted on Thursday an 8.8% increase in its first-half operating profit, as revenues grew by double figures.
Earnings before interest and taxes (EBIT) rose to 113.8 million euros ($133 million) in the January-June period, broadly in line with a Visible Alpha analysts’ consensus.
The group said that the sales growth trend for July and August was in line with the first half of the year, and confirmed its outlook for this year and the next.
WHY IT’S IMPORTANT
The group has proved more resilient than others in the luxury sector in the face of an industry slowdown and has forecast annual sales growth of around 10% in both 2025 and 2026.
CONTEXT
Revenues at Brunello Cucinelli rose 10.7% at constant exchange rates in the first half of the year, according to preliminary figures released in July.
($1 = 0.8542 euros)
(Reporting by Elisa AnzolinEditing by Keith Weir)
