PPR's Net Profit Increases

PPR-LogoPPR SA, a French retail-to-luxury company reported a 7% increase, in net profit in 2009. The company said that to boost revenues in fast-growing markets, it is launching a sales offensive. PPR's net profit was €984.6 million as compared with €921.1 million of the last year. Even then, the sales fell by 4% to €16.52 billion from €17.21 billion.

PPR Deputy Chief Executive and Financial Director Jean-Francois Palus told that company will now focus on lifting sales, particularly online and in emerging markets. A difficult year for traders ended with a little development.

As it sold its African distribution business CFAO, net profit rose to €984.6 million.

"We are launching an energetic sales offensive aimed at further strengthening our leadership on the highest-growth markets, such as e-commerce and emerging countries, and at raising our business and financial performances in 2010", said CEO Francois-Henri Pinault in a statement.

Around 0.8% increase in quarterly revenue to €1.56 billion was reported by PPR's FNAC books and electronics chain. German Sportswear Company Puma AG of PPR reported a doubling of net income on Wednesday.

 

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