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Prada net profits bolstered 206%

Luxury fashion house Prada saw net profits soar 206% for the first nine months of the year, helped by growing sales in Asia.

Net profit trebled to €156m (£132m) in the nine months to the end of October.

Total sales were up 31% to €1.38bn (£1.17bn). Within that, retail sales increased 44% while wholesale sales rose 9%.

Sales were boosted by a 51% lift in sales in Asia while European sales were also up 20%.

Prada is reportedly revisiting the potential to float the business in the first quarter of 2012.

Chief executive Patrizio Bertelli and designer Miuccia Prada, the great grandaughter of the company’s founder, control 95% of the company.

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