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PPR profits hit 12-year high

LUXURY and sports brand group PPR has posted operating profits of €1.76 billion while an upbeat trading statement helped push shares to a 12-year high.

The French company, which includes Puma, Stella McCartney, Gucci and Scottish design house Christopher Kane in its portfolio, ended the day up €12.2 at €172.

Sales across the year rose 11% to €9.74bn excluding acquisitions and exchange-rate movements.

PPR said luxury brand growth helped to offset lower profits at Puma.

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