Prada Net Profit Declines 28%

Prada S.p.A. PRDSY reported a 28% decline in its net income for the year ended January 31. Prada's net income slipped to 450.7 million euros (US$491 million), compared to EUR627.8 million, in the year-ago period. Its revenue fell 1% to EUR3.55 billion. Asia Pacific sales dropped 3.1%. Its revenue for the three-month period ended Jan. 31 shrank to EUR999.7 million, versus EUR1.01 billion in the year-ago period. Prada's board proposed a final dividend of 11 euro cents a share. Prada's shares gained 0.39% to close at $13.00 on Friday.