Agence France-PresseFebruary 15, 2013 05:16
French luxury and retail group PPR on Thursday said net profit in 2012 was up 6.3 percent from a year earlier to 1.05 billion euros ($1.4 billion) on solid growth in its luxury business.
The results did not include its struggling Fnac and Redcat retail businesses, largely based in France, which PPR is in the process of spinning off. Those units together posted a loss of 276 million euros.
"PPR's results for 2012 are excellent, thanks to the exceptional performances of all brands in our Luxury Division," said François-Henri Pinault, PPR chairman and chief executive.