PARIS Feb 10 French luxury and sports brand
group Kering reported a forecast beating rise in 2016
profit on Friday, reflecting the successful revival of its
biggest brand, Italy's Gucci.
The owner of Yves Saint Laurent, Stella McCartney and Puma
brands said 2016 recurring operating income rose 14.5 percent to
1.886 billion euros ($2.01 billion) while group revenue rose 8.1
percent on a comparable basis to 12.385 billion euros.
This compared with 1.83 billion euros for profit and 12.28
billion euros for sales according to a Reuters consensus
conducted with Inquiry Financial.
Fourth quarter comparable sales at Gucci, which makes over
60 percent of Kering's profit, rose 21.4 percent, beating
analysts expectations of 13 percent. This was an acceleration
from already stellar 17 percent growth in the third quarter.
($1 = 0.9384 euros)
(Reporting by Dominique Vidalon; Editing by Bate Felix)