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4 months ago
BRIEF-Prada says improved conditions seen at end 2016 are "still there"
April 12, 2017 / 1:10 PM / 4 months ago

BRIEF-Prada says improved conditions seen at end 2016 are "still there"

April 12 (Reuters) - Italian fashion group Prada executives say at a post results analyst call:

* dividend on 2017 results likely to be in the same range as last few years

* the group is not thinking about M&A deals now, but has no bias against them and will review opportunities if they arise

* improvement in trading conditions seen in December and January are "still there"

* has appointed new manager, Chiara Tosato, to lead digital strategy of the company

* group has seen "sequential" improvement in the second half of 2016, particularly in the last few months of the year

* growth in the UK was double digit in the second half of the year, Russia sales outperformed with double digit growth across the year

* in 2016 group opened 28 new stores, closed 26 and renovated 40 boutiques

* Cash flow generation will be used to self-fund activities, mostly digital initiatives Further company coverage: (Reporting by Milan newsroom)

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