PARIS, March 21 (Reuters) - SMCP, the group behind fashion brands Sandro and Maje, posted higher annual profits on Thursday and expressed confidence of further growth in 2019 despite volatile macroeconomic conditions.
SMCP’s adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) rose 11.6 percent from a year ago to 171.5 million euros ($195.84 million).
SMCP, controlled by Chinese retail group Shandong Ruyi , said it was targeting 9-11 percent sales growth at constant exchange rates for 2019, as well as a stable adjusted EBITDA margin.
$1 = 0.8757 euros Reporting by Sudip Kar-Gupta; Editing by Simon Cameron-Moore
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