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Brunello Cucinelli 2016 core profits up 13 pct on China sales
March 9, 2017 / 5:54 PM / 9 months ago

Brunello Cucinelli 2016 core profits up 13 pct on China sales

MILAN, March 9 (Reuters) - Italian luxury goods group Brunello Cucinelli reported on Thursday a 13.2 percent rise in full-year core profit, boosted by demand in Greater China and sales through its mono-brand stores.

Cucinelli’s earnings before interest, tax, depreciation and amortisation (EBITDA), net of non-recurring costs, came in at 78.2 million euros ($83 million), just above a Thomson Reuters estimate of 76.2 million euros.

“With the excellent results of the sales... we can say with certainty that the current year will see double-digit growth in both revenues and profit margins,” Chief Executive and Chairman Brunello Cucinelli said in a statement.

The company will pay a dividend of 16 euro cents per share, up from 13 euro cents last year. ($1 = 0.9454 euros) (Reporting by Giulia Segreti; editing by Agnieszka Flak)

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