Sneaker maker Golden Goose posts 12% increase in core profit in H1

MILAN (Reuters) – Italian luxury sneaker group Golden Goose said its adjusted core profit rose 12% to 109.2 million euros ($120.57 million) in the first half of the year, as its net revenues kept growing.

Revenues were up 12% at constant exchange rate, to 307 million euros, with Europe, Middle East and Africa accounting for 48% of total net revenues.

WHY IT MATTERS

The Italian company, which is controlled by private equity firm Permira, shelved its initial public offering in June, citing market deterioration after the European parliamentary elections and the calling of snap general elections in France.

At that time the group said it would reassess the IPO in due course.

($1 = 0.9057 euros)