(Boursier.com) — Kering lost 0.5% this Thursday to 617 euros, despite RBC which revalued the luxury group from 830 to 885 euros with an opinion to ‘outperform’ after a very good performance in the fourth quarter of 2021. Over the past period, the group has recorded organic growth of 31.9% with revenues of 5.4 billion euros. The organic growth of Gucci, the company’s flagship brand, notably reached 31.6%, where the market expected 18%, after rising only 3.8% in the third quarter due to the resurgence of the COVID-19 outbreak in Asia. Yves Saint Laurent also had an excellent quarter with growth of 47%, well above analysts’ expectations.
For the full year 2021, Kering recorded record sales of 17.64 billion euros, up 35.2% like-for-like, while its current operating income also reached an unprecedented level , to 5.02 billion (+60%), showing a margin of 28.4%.
Kering did not give forecasts for the 2022 financial year but said it was “perfectly positioned” to benefit from the recovery and confident in its medium and long-term growth potential…
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