Prada Shares Hit All-Time High After Strong Earnings

Prada Lacks Strong Brand Loyalty in China: Analyst
Getty Images

Shares of Italian fashion house Prada surged as much as 7.9 percent to an all-time high on Friday after the Milan-based company posted forecast-beating quarterly results.

The shares rose to as high as HK$69.50 before they steadied at HK$68.40 as of 0138 GMT, up more than 6 percent and outperforming a flat benchmark Hang Seng Index.

Prada posted a 30 percent rise in third-quarter net profit to 122 million euros ($160 million), topping analysts' average forecast of 110 million.