First-half
net profit fell 21% to 244.8m euros (£192.5m; $314m), the company said.
It
said the strength of the euro had hurt sales as well as a "difficult
economic" environment.
Ahead
of the announcement, Prada shares fell 1.3% in Hong Kong, to their lowest level
in more than two years.
Prada
expects profits in the second half of the year to be broadly in line with the
first half, however "margins will continue to be under pressure with some
marginal improvements deriving from the costs-cutting actions," the
company said in a statement.
"We
remain confident that the luxury goods market - especially the high-end segment
where the Prada Group operates with success - will continue to offer
interesting growth prospects in the medium-term," said Prada's chief
executive
