(News Bulletin 247) – The Moncler stock fell on the Milan Stock Exchange on Friday morning, penalized by profit taking as the Italian down jacket manufacturer published better than expected activity figures.
Over the first three months of the year, the turnover of the Milanese group increased by 23% to 726 million euros, while the consensus of financial analysts was 690 million euros.
Excluding currency effects, sales increased by another 23%.
The company says it has benefited from an acceleration in the dynamism of its direct sales network (+34%), but also from the vitality of its activity in Asia (+32%) following the easing of health measures in China.
However, UBS analysts point to a certain caution in terms of margins, the management team having declared that it wants to “defend the threshold of 30% in the face of the intensification of capital expenditure”.
Around 11:00 am, Moncler shares lost 1.7% when the FTSE MIB index took 0.8%. However, the stock has risen by 32% since the start of the year and is still evolving not far from its historic highs.
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