2013 First-Half Results: A solid first-half performance
∞Revenue up 4% on a comparable basis, gathering momentum in the second quarter
∞Excellent performance of the Luxury Division: 8% increase in sales on a comparable basis
∞Recurring operating income up 2.3%
∞Improved operating margin at 18%
François-Henri Pinault, Chairman and Chief Executive Officer, commented: "Kering delivered a solid performance in the first half of 2013, with revenue up 4% on a comparable basis and further growth in operating margin. The Luxury Division continued to deliver robust growth, gathering momentum in the second quarter and powered by the solid performance in its directly operated stores and its mature markets. The contraction in the Sport & Lifestyle Division's sales is in line with our forecasts for the full year. Puma, now under the management of Björn Gulden, is continuing its Transformation Programme. The strength of our brands, their organic growth potential, the good geographic balance of our activities and the commitment of our teams all reinforce our confidence in the Group's ability to further improve its performances in the full year."