Brunello Cucinelli 2013 net profit 29.6 million euros

MILAN, Italy - Italian cashmere specialist Brunello Cucinelli posted a 2013 net profit up of 29.6 million euros on Monday, in line with a mean estimate from nine analysts polled by Reuters of 28.9 million euros ($40.1 million).

Net sales rose 15.5 percent in 2013 from the previous year to 322.5 million euros, while the Italian market, accounting for almost 21 percent of total revenues, declined by 2.9 percent.

Chief Executive Brunello Cucinelli said in a statement he expected a "double digit gentle growth in 2014 in terms of both revenues and profit."

The group, which makes casual luxury clothing in a medieval hamlet in Italy's Umbria region, said it would pay a 2013 dividend of 0.11 euros per share.

Like-for-like sales from its directly-operated stores rose 6.1 percent at constant exchange rates in the first two months of 2014, Cucinelli said.

$1 = 0.7205 euros