Moncler tops forecasts with 69 pct rise in Q1 net profit

Italian luxury down jacket maker Moncler beat expectations with a 38 percent rise in first-quarter revenues helped by strong performances in North America, Greater China and Japan.

At constant exchange rates, revenues rose 30 percent to 201 million euros ($226 million). That compares with an average estimate of 177 million euros in a consensus of six analysts compiled by Reuters.

Moncler, which is rapidly expanding its direct store network, said sales at shops opened at least 12 months ago rose 25 percent in the first quarter.

Retail sales, which account for two thirds of the total, soared 69 percent, while wholesale sales declined 1 percent.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 65.7 million euros from 45 million euros a month ago.

Net profit stood at 39.6 million euros compared with an average forecast of 29.2 million euros, up 69 percent from a year ago.

€1 = $1.12/£0.72