* Net profit 156 mln euros
* Revenue 1.38 bln euros, up 31 pct yr-on-yr
* CEO says confident on "oncoming" development
By Antonella Ciancio
MILAN, Nov 24 (Reuters) - Italian fashion house Prada, which
may list on the stock market next year, said on Wednesday it was
confident about its immediate future after booming Asia sales
helped nine-month net profit treble.
The family run company, whose trend-setter designer Miuccia
Prada is known for her minimalist style, said net profit trebled
to 156 million euros ($209 million) in the nine months to
end-October.
"These data confirm that the retail network expansion is a
winning strategy; these excellent results let us confidently
look at the oncoming group's development," Chief Executive
Patrizio Bertelli said in a statement.
Prada, which has to float several times in the past decade,
has said it is considering a listing in 2011, with Hong Kong
among the market options.
The move would help free Prada from the burden of a debt
estimated at around 1 billion euros, partly a result of an
acquisition spree in the 1990s.
Sales rose 31 percent to 1.38 billion euros in the
nine-month period, with Europe and the United States
contributing to the growth.
Sales in Asia, including recovering Japan, grew 51 percent,
or 22 percent on a like-for-like basis, confirming the region's
pivotal role in Prada's growth over the last quarters.
Watch Fashion Online
* Revenue 1.38 bln euros, up 31 pct yr-on-yr
* CEO says confident on "oncoming" development
By Antonella Ciancio
MILAN, Nov 24 (Reuters) - Italian fashion house Prada, which
may list on the stock market next year, said on Wednesday it was
confident about its immediate future after booming Asia sales
helped nine-month net profit treble.
The family run company, whose trend-setter designer Miuccia
Prada is known for her minimalist style, said net profit trebled
to 156 million euros ($209 million) in the nine months to
end-October.
"These data confirm that the retail network expansion is a
winning strategy; these excellent results let us confidently
look at the oncoming group's development," Chief Executive
Patrizio Bertelli said in a statement.
Prada, which has to float several times in the past decade,
has said it is considering a listing in 2011, with Hong Kong
among the market options.
The move would help free Prada from the burden of a debt
estimated at around 1 billion euros, partly a result of an
acquisition spree in the 1990s.
Sales rose 31 percent to 1.38 billion euros in the
nine-month period, with Europe and the United States
contributing to the growth.
Sales in Asia, including recovering Japan, grew 51 percent,
or 22 percent on a like-for-like basis, confirming the region's
pivotal role in Prada's growth over the last quarters.
Watch Fashion Online
