EARNINGS PREVIEW: PPR 1H Oper Profit Seen At EUR650M

29th Jul 2010 15:27

PPR (PP.FR): 1H 2010 Earnings Due: July 30 at 0500 GMT DJ Survey of 6 Analysts Average Operating Profit: EUR650M, down 8.1% (EUR707M in 1H 2009) Average Revenue: EUR8.08Bln, down 13% (EUR9.24Bln in 1H 2009) Note: PPR's first half sales and profit will be lower compared with the first half last year without the contribution of assets since sold. At constant scope, operating profit and revenues are seen rising 11% and 2.9%, respectively, with growth led by the luxury division Gucci Group and improved sales at Fnac, thanks in part to a boost from sales of goods during the World Soccer Cup. Analysts will look closely at luxury goods business after reports from peers Burberry (BRBY.LN), LVMH (MC.FR) and Hermes International (RMS.FR) raised expectations for the industry. ([email protected]) Contact us in London: +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 29, 2010 10:27 ET (14:27 GMT)