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PRADA Plunges 10%+ as Interim Results Miss
Recommend 4 Positive 5 Negative 7 |
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PRADA (01913.HK) opened 3.9% lower at $45 today (31st) before its decline expanded sharply in the early session, and once tumbled 11.4% to a low of $41.45, logging a low in about a year and a half since January 2024. The stock last printed at $41.7, dipping 10.9%, with 2.2199 million shares traded, involving $94.0291 million. The Group announced its interim results for the period ended June after the market closed yesterday (30th), with net revenues of EUR2.74 billion, up 9% YoY at constant exchange rates. Including exchange rate fluctuations, it rose by 7.5%. Retail net sales increased by 10.1% YoY, a solid performance driven by full price like-for-like sales. 1H25 net profit amounted to EUR386 million, a slight increase of 0.6% YoY, with an EPS of EUR0.151. No dividend was declared. Morgan Stanley said that PRADA's 1H25 adjusted EBIT was 3.1%, missing expectations, and its 2Q25 results were below market consensus, with 3Q25 sales estimation likely to be lowered. Therefore, the broker dropped its target price from $66 to $62, with rating at Overweight. AASTOCKS Financial News Website: www.aastocks.com |
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