Insight Report 3 minutes PremiumKERING (ENXTPA: KER) 1H 16 RESULTS: SOLID SALES GROWTH DESPITE CHALLENGING MARKET Coresight Research July 28, 2016 Executive Summary French luxury group Kering reported 1H16 revenue of €5,693 million, up 3.3% from €5,513 million in 1H15. Revenues were above the consensus estimate of €5,605 million. At constant currency, revenues rose an impressive 5.5%. The Luxury activities segment’s revenue increased by 3.1% year over year and 4% on a constant currency basis to €3,878 million in 1H16. The Sports and Lifestyle activities segment’s revenue increased by 3.8% year over year, or 9.1% on a constant currency basis to €1,797 million in 1H16. Recurring operating profit grew by 4.9% to €811 million in 1H16, above the consensus estimate of €787 million. Recurring EPS increased by 6.4% to €4.13, below the consensus estimate of €4.18. Going forward, the Luxury activities will focus on achieving same-store revenue growth and a targeted and selective expansion strategy for the store network. Puma expects to achieve further revenue growth and an increase in recurring operating income for FY16. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Market Outlook: US CPG—Growth Led by Price Hikes Amid Macroeconomic VolatilityEarnings Insights 4Q22, Week 5: Floor & Decor, TJX and Walmart Post Solid Sales Momentum; Alibaba and Home Depot See Slowed GrowthWeekly US and UK Store Openings and Closures Tracker 2024, Week 30: Conn’s and Carpetright Close Stores Following Bankruptcy FilingsConsumer Activity Declines While Shopping Stays Steady: US Consumer Tracker 2023, Week 35