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. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: Economic Sentiment Converges as Pessimism Eases: US Consumer Survey InsightsRetail Innovation: State of In-Store Retailing and Opportunity To Redefine OperationsApril 2023 China Retail Sales: Total Sales Accelerate Further as Most Sectors Continue To See Strong GrowthRetail-Related Activities Stutter: China Consumer Tracker
