Shares in PPR have soared to a 12-year high on the Paris Stock Exchange today (February 15th), as the Gucci owner enjoys rising demand.
The French luxury goods firm – which also owns Yves Saint Laurent and Bottega Veneta – revealed a better-than-anticipated increase in earnings thanks to its big labels.
Net income rose by 6.3 per cent to €1.4 billion (£1.2 billion) and sales rose by 20 per cent to €9.7 billion.
Boss of PPR Francois-Henri Pinault said the results were "excellent" and added that he is confident of the company's financial and operating performances for this year.
The organisation also pointed out the 40 per cent of its global sales came from emerging markets, as burgeoning economies have acquired a taste for the finer things in recent years.
At 15:16 GMT on the Paris Stock Exchange, PPR shares jumped by 7.6 per cent to €172.05 per unit, with the company leading the way on the Cac 40 index, which rose to an index value of 3692.3 points.
Find out about major individual shares and spread betting strategies at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.