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Prada posts lackluster financials

Prada saw a 17% rise in net revenues at constant exchange rates last year, reaching $5.1 billion (4.7 billion euros), largely driven by growth in Asia and Miu Miu’s strong performance. Sales in Asia-Pacific surged 24%. In Europe they grew 14% and in the Americas they remained steady. Adjusted operating profit rose 26% to $1.18 billion (1.06 billion euros). CEO Andrea Guerra is optimistic about sustaining solid growth above market levels, despite potential fluctuations. The group proposed a dividend of 0.137 euros ($0.15) per share.

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