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Prada Q3 profit rises 8.6 pct, misses analyst estimates

Reuters - UK Focus

HONG KONG, Dec 20 (Reuters) - Italian luxury fashion house Prada SpA has missed analyst estimates by posting a 8.6 percent rise in third-quarter profit, as solid performance in the Americas and Japan made up for slowing growth in Europe and Asia.

Net (Frankfurt: NETK.F - news) profit for the three months ended Oct (KOSDAQ: 039200.KQ - news) 31 was 132.64 million euros ($181.7 million), higher than 122.1 million euros a year earlier, the maker of luxury leatherware and Miu Miu-brand dresses said on Friday. That compared with a median 154 million euros estimate of three analysts polled by Reuters.

Revenue increased 7.1 percent to 848.0 million euros from 791.9 million euros a year ago.

Shares of Hong Kong-listed Prada (HKSE: 1913.HK - news) closed 0.2 percent higher ahead of the results, whereas the Hang Seng Index ended 0.3 percent lower.

Prada, like rivals LVMH Moet Hennessy Louis Vuitton SA (Milan: LVMH.MI - news) and Kering SA (Other OTC: PPRUF - news) , this year has had to contend with a crackdown on conspicuous spending by government officials in China, where the company generates almost a quarter of total sales.(Reporting by Donny Kwok and Lee Chyen Yee; Editing by Christopher Cushing)