Prada Reports 23% Increase in First-Half Revenue
Luxury goods manufacturer Prada on Monday reported first-half revenues up 23%, powered by its Miu Miu brand which surged in Asia.
Prada said revenue rose to 811.5 million euros ($1.14 billion) boosted by sales of its various brands such as Miu Miu, Car Shoe and Church's, in key markets worldwide. Sales of Miu Miu were up 46%, Prada said in a statement.
Prada said earnings before interest, taxes, depreciation and amortization grew 40% to 140 million euros ($197 million). For the full-year 2007, Prada expects its Ebitda to grow 19% 280 million euros ($393 million).
The company did not report any net results.
Prada is among the Italian luxury brands, along with shoemaker Salvatore Ferragamo and Gianni Versace, considering an initial public offering.