October 24, 2019 / 4:19 PM / 24 days ago

Sales at Italy's Moncler rise 10% in third quarter despite Hong Kong hit

FILE PHOTO: The logo of Moncler is seen in a shop in downtown Rome, Italy February 10, 2016. REUTERS/Tony Gentile/File Photo

MILAN (Reuters) - Revenues at Italian luxury outerwear maker Moncler (MONC.MI) rose by 10% at constant exchange rates in the third quarter, slightly above market expectations, despite a “subdued performance” in Hong Kong due to months of protests.

In the first nine months sales grew by 12% at constant rates to 995.3 million euros (£859.2 million) compared with an average analysts estimate of 990 million euros, according to a Reuters poll.

The Asia and rest of the world area, which account for about 40% of total revenues, posted a 15% increase in the third quarter, thanks to Japan, Mainland China and Korea, the group said on Thursday. Sales in Italy grew by 4% and Europe by 7%.

Reporting by Claudia Cristoferi, editing by Silvia Aloisi

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