Moncler sees 18% revenue growth in first half of 2017
Italian luxury outerwear maker Moncler beat analysts’ expectations last week when it released earnings for the first half of 2017. The company saw a rise in revenues of 18% - or 17% when adjusted for currency fluctuations – and said it expects more in the second half. Total sales for the first six months of the year came in at €407.6 million, beating the consensus estimate of €401 million. A greater portion of this money made it into the profit section, as the company saw a net income of €41.8 million – that’s 10% of the total, for a year-over-year increase of 25%.
Moncler’s share price is up by almost 40% so far this year
SOURCE: Yahoo Finance
Moncler’s chairman and CEO, Remo Ruffini, spoke to the continuing strength of the company in a press release, saying:
“This is the fourteenth consecutive quarter of double-digit growth for Moncler since it was listed in 2013. Group revenues grew by a further 20 percent in the second quarter of 2017, driven by positive contributions from all regions and channels.”
Moncler’s first half revenue through the years
The company saw strong results across the board, but its EMEA (Europe, the Middle East, and Africa) segment was a standout. Revenue in those regions grew by 24% overall, pushed by strong performance in all markets, but with particularly positive figures coming out of France and the UK. In Italy, revenues rose by 7%, and in Asia & Rest of World, they rose 17%. The Americas also saw strong growth, as revenues rose by 16%. All of these figures are on a year-over-year, constant currency, basis.
According to Ruffini: “the group is anticipating a scenario of further growth in 2017.”
Dominion holds Moncler in its Global Trends Luxury Fund.
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