Milan

Prada posts Q1 net profit of 138 million euros, up 14%

Gross operating margin rises 20%

Prada posts Q1 net profit of 138 million euros, up 14%

Milan, June 11 - Prada's net profit for the first quarter of 2013 was 138 million euros on consolidated revenues of 782 million euros, the fashion house announced on Tuesday. Both net profit and consolidated revenues saw 14% growth over the same period in 2012. Prada's gross operating margin rose 20% over the first quarter of last year. The group's net financial position was positive at 360.5 million euros. "In 2013 we will continue to concentrate on the international expansion of our retail sales network," said Prada Chief Executive Patrizio Bertelli, who is the husband of Prada's creative director, Miuccia Prada. Prada is listed on the Hong Kong stock exchange.

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