PPR SA reported Thursday that the luxury retail group posted a 7 percent increase in 2009 profits and announced a sales plan to increase revenue in emerging markets, according to Associated Press.
PPR, owner of the Yves Saint Laurent and Gucci brands, said net profit rose to euro984.6 million ($1.35 billion) after it sold its African distribution business CFAO.
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The sale in December raised euro806 million. The group did not release quarterly profit information.
Revenue fell 4 percent to euro16.52 billion in 2009 and 3.2 percent in the October to December quarter.
Revenue at PPR's Gucci Group subsidiary, which comprises luxury fashion and leather brands such as Yves Saint Laurent and Bottega Veneta as well as its namesake Gucci brand, was down 0.3 percent at euro929.2 million in the fourth quarter.
PPR's FNAC books and electronics chain reported a 0.8 percent increase in quarterly revenue to euro1.56 billion, while its Conforama furniture stores saw 0.1 percent sales growth to euro848.8 million in the period.
The Redcats catalog unit reported a 9.9 percent fall in revenue to euro904 million.
PPR's German sportswear company Puma AG reported Wednesday that its net income for the fourth quarter doubled to euro16.2 million, citing lowered expenses and higher operating profits.
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