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Gucci boosts Kering revenue

Revenue at Kering jumped by 27.2% to €15.5bn (£13.8bn) last year on a like-for-like basis.

In the year to 31 December 2017, operating profit soared by 56.3% to €2.9bn (£2.6bn) as operating margin rose by 3.8 percentage points to 19% year on year.

EBITDA jumped by 49.4% to €3.5bn (£3.1bn) as EBITDA margin widened by 3.7 percentage points to 22.4%.

Luxury revenue rose by 29.9% on a like-for-like basis. Gucci revenue was up by 44.6% and Saint Laurent by 25.3%, while sport and lifestyle revenue leapt by 14.7%, as Puma revenue rose by 15.8%.

Recurring operating income for the brand also jumped by 92.7%.

François-Henri Pinault, chairman and CEO at Kering, said: “We unequivocally demonstrated the strength of our business model.

“In a global environment that remains uncertain, we will not relax our vigilance, but we are confident that the complementarity of our houses, our geographic footprint, the diversity of our customer base and the strengths of an integrated luxury group will enable us, this year again, to do much better than our markets.”

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