Brunello Cucinelli confirm double-digit revenue and profit growth for 2014

Italian luxury house of Brunello Cucinelli confirmed it expected double-digit growth in revenue and profit for 2014 on Monday, as it reported 2013 net profit a touch above market expectations. Like-for-like sales from its directly-operated stores rose 6.1 percent at constant exchange rates in the first two months of 2014, Cucinelli said.

Net profit rose 10.9 percent to 29.6 million euros ($41 million) in 2013, the company said, slightly above a mean estimate from nine analysts polled by Reuters of 28.9 million euros. The group said it would pay a 2013 dividend of 0.11 euros per share, equal to a quarter of its net profit.

Brunello Cucinelli store SoHo New York