Gucci parent PPR reported that first-half revenue from continuing operations for its Luxury Goods division rose 12.6% while profit rose 36.4%, excluding the effects of currency translation.

The group cited strong performance from Gucci and Bottega Veneta. Other PPR Luxury Goods Group brands include Yves Saint Laurent, Balenciaga, Alexander McQueen and Stella McCartney.

After accounting for currency, revenue and profit from continuing operations rose 6.3% and 13.1%, respectively. Sales increased by 8.3% in Europe and trended higher towards the end of the period. In North America, representing 18.1% of total revenue, growth reached 7.7% and also saw acceleration in the second quarter.

Asia-Pacific (excluding Japan) now represents 23.2 % of total sales and continued to report  sustained growth (+ 33.4%), notably driven by an increase of 97.8% in China. In Japan (15.7% of total revenue), sales were virtually stable over the period.

In a statement, CEO Francois-Henri Pinault said that "PPR has always been able to take advantage of periods of slower growth and the present case is no exception."

(Posted 30 August 2008)