By Chester Yung
HONG KONG--Prada S.p.A. (1913.HK), an Italian luxury fashion
house, Monday reported a 28% drop in group fiscal-year net income,
dragged by the decline of sales in the Asia Pacific and Europe.
Group net income for the year ended January 31 fell to 450.7
million euros (US$491 million) from EUR627.8 million a year
earlier, while revenue dropped 1% to EUR3.55 billion.
For the three-month period ended Jan. 31, revenue fell to
EUR999.7 million from EUR1.01 billion a year earlier.
The company said there is still uncertainty over the
international luxury-goods market partly because of currency
volatility.
The company proposed a final dividend of 11 euro cents per
share.
Shares of Prada were recently up 1.1% at 50.9 Hong Kong dollars
(US$6.57) on Monday.
Write to Chester Yung at chester.yung@wsj.com
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