Prada shares jump 13% on growth outlook

[HONG KONG] Shares in Prada jumped 13 per cent after the Italian luxury goods maker said it would return to growth this year having stemmed a sales slide in the second half of 2017.

Profit at Italy's largest luxury player by revenue has been falling since 2014 even as competitors such as Kering and LVMH have boosted sales.

In early morning trade, Prada shares jumped to HK$36.9, the highest since May 5, 2017 and outperforming the benchmark Hang Seng Index which was up 1.4 per cent.

REUTERS