An interior detail of an Ermenegildo Zegna store is seen in Rome, Italy, December 20, 2021. REUTERS/Yara Nardi
MILAN, Aug 26 (Reuters) – Italian fashion group Ermenegildo Zegna raised its full-year guidance on Friday after reporting a 21% rise in half-year revenue.
The company, which is listed in New York, said it now expects mid-teens revenue growth in percentage terms versus previous guidance for low-teens growth.
He also predicted a “solid improvement” in adjusted earnings before interest and tax (EBIT) after previously talking only about an improvement.
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“While our current performance is strong, including a healthy rebound in the Greater China Region, the global geopolitical and economic outlook remains uncertain,” Chairman and CEO Ermenegildo Zegna said in a statement.
“I am confident that we will remain on track as we execute our strategy to achieve our new guidance for 2022,” he added.
The family-controlled group, which controls Italian menswear brand Zegna and US label Thom Browne, said revenue rose 21% to 729 million euros ($729 million) in the first six months of 2022 while adjusted EBIT increased 24% to 82.7 million euros.
($1 = 0.9994 euros)
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Writing by Keith Weir; editing by Jason Neely
Our Standards: The Thomson Reuters Trust Principles.
