August 28, 2018 / 4:30 PM / 3 months ago

Italy's Brunello Cucinelli sees more double-digit growth in 2019

MILAN, Aug 28 (Reuters) - Italian luxury group Brunello Cucinelli said on Tuesday it had a “very positive outlook” for its business in 2019, and expected further double-digit growth.

The revenue and core profit of the company, known globally for its plush cashmere designs, have consistently increased in the last six years and its shares have risen more than fivefold since April 2012, when it first listed on the Milan bourse.

The group, based in the central Italian region of Umbria, has said it expects double-digit growth in revenue and profit in 2018.

“The good performance of Fall/Winter sales allows us to confirm our positive outlook for the second half of the year,” Chairman and Chief Executive Brunello Cucinelli said in a statement.

Cucinelli added that the “excellent performance” of the new Spring/Summer collections allowed the group to have a positive outlook for next year. (Reporting by Giulia Segreti, editing by Stephen Jewkes and Alexandra Hudson)

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