November 13, 2014 / 5:05 PM / 6 years ago

Ferragamo sees Q4 at least in line with Jan-Sept as core profit up 6 pct

MILAN, Nov 13 (Reuters) - Italian luxury shoemaker Salvatore Ferragamo posted on Thursday a 6 percent core profit rise in January-September and said growth in the last quarter would be at least in line with that recorded in the first nine months.

Ferragamo said earnings before interest, tax, depreciation and amortisation (EBITDA) were 203 million euros ($253 million) in the period. This is in line with the consensus by analysts who had been expecting a slowdown in growth due to a more challenging environment after EBITDA rose 9 percent in the first half of the year.

Revenues also met expectations rising 4.6 to 956.6 million euros, boosted by strong retail sales in China. Sales declined in Japan in the third quarter and the weakness of the yen also took a toll.

Before accounting for currency moves overall sales were up 6 percent in the period.

Ferragamo said tensions in Europe had continued to curb tourist flows compounding a weak economy.

Growing political instability globally has further clouded prospects for the luxury sector, which is experiencing a slowdown in growth, mainly due to softer consumer spending in China. (1 US dollar = 0.8012 euro) (Reporting by Valentina Za; editing by Agnieszka Flak)

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