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PPR gives stellar performance in 2007

Sales at luxury goods group PPR rose 7% on a comparable basis to €19.8 billion (£14.9bn) in 2007, with stellar performances from its Gucci Group clothing brands.

Group recurring operating income jumped 33% to €1.7bn (£1.2bn), with growth driven primarily by sharp rises at all Gucci Group brands - up 29%. The Gucci Group brands to post the strongest performances were Bottega Veneta (69%) and Yves Saint Laurent (35%).

The group said the year was marked by the acquisition of Puma, which enhanced PPR's portfolio of global brands. Yesterday PPR released Puma's Q4 figures.

Chairman and chief executive François-Henri Pinault said: "PPR once again achieved outstanding operational and financial performances in 2007, and I wish to thank all our teams for their contribution. These results reflect the strength of our brands and retail concepts, active in the fastest-growing consumer and luxury goods segments in over 90 countries. Our success is also due to the ongoing implementation of our strategy, which gives the Group a remarkably dynamic and balanced profile, a key competitive edge in today’s tougher economic environment. PPR is confident in delivering another year of growth and improved financial performances in 2008, while pursuing its expansion in high-growth markets."

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