YNAP profits soared in 2016 - expect more of the same this year

Luxury online retailer Yoox Net-A-Porter said on Wednesday its expects its adjusted core profit margin to keep rising this year, after reporting core profit was up 17 percent year-on-year in 2016.

YNAP said that adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose to €156 million last year, just above analysts' expectation of €154 million .

"In 2016 YNAP consolidated its leading position with a robust performance and growth in profitability," said Chief Executive Federico Marchetti in a statement.

The group said its adjusted net income was €69 million, up 16 percent with respect to last year.

Last month YNAP said revenues in 2016 were up 17.7 percent at constant exchange rates, slightly below an average analyst estimate, but added that average monthly unique visitors and total orders were up with respect to 2015.