Kering Posts Surge In 2014 Profit

Kering SA PPRUY reported a jump in its profit last year. Kering's profit for the year surged to 528.9 million euros ($600.4 million), compared to a year-ago profit of EUR49.6 million, while EPS jumped to €4.20 from €0.39. The company's overall revenue gained 4% to EUR10.04 billion. Recurring operating income slipped 5.0% to €1.66 billion euros, versus €1.75 billion euros. Its sales at Gucci dropped 1.1% to EUR3.5 billion, while operating income fell 6.7% to EUR1.06 billion. Sales at Puma gained 3.4% to EUR2.99 billion, while operating income declined to EUR128 million. Bottega Veneta sales climbed 11.3%, while Yves Saint Laurent sales climbed 27%. Kering shares fell 0.10% to close at $20.88 on Friday.