Group revenue amounted to EUR 9BB in the first half of 2024, down 11% both as reported and on a comparable basis, vs. EUR 10.14B last year. In the first half of 2024, net financial expense amounted to EUR 288M. The effective tax rate on recurring income was 26.9%. Net income attributable to the Group was EUR 878M. Chairman and CEO Francois-Henri Pinault commented: “In a challenging market environment, which adds pressure on our top line and profitability, we are working assiduously to create the conditions for a return to growth. Our Houses pursue their investments to enrich their offer, intensify the impact of their communications, and reinforce the exclusivity of their distribution. We make certain that every one of these investments creates value for the long term. While the current context might impact the pace of our execution, our determination and confidence are stronger than ever.
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