PPR shares hit 12-year high in Paris

<p>Gucci owner PPR has witnessed its share price soar to a 12-year high.</p>

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.

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