Prada H1 profit rises 7.6 pct, lags forecast
HONG KONG, Sept 17
HONG KONG, Sept 17 (Reuters) - Italian luxury fashion house Prada posted a 7.6 percent rise in first-half profits on Tuesday, lifted by solid growth in its key greater China market but the result was lower than what analysts had forecast.
The maker of luxury leatherware and Miu Miu-brand dresses said its net profit for the six months ended July was 308 million euros ($411 million), up from 286.4 million euros a year earlier.
The result lagged an average forecast for a profit of 321.3 million euros from five analysts polled by Thomson Reuters.
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Last month, Prada brushed off luxury industry concerns about slowing growth in China and said that demand from the country helped to drive an 11.6 percent rise in sales for the six months ended July. ($1 = 0.7489 euros) (Reporting by Donny Kwok; Editing by Miral Fahmy)
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