Zegna adjusted operating profit falls 11% after Saks Global provision

MILAN, March 20 (Reuters) - Adjusted operating profit at Italian luxury group Ermenegildo Zegna JN0.F fell 11.4% to 163 million euros ($188.49 million)last year, after the group booked a 10-million-euro allowance for expected losses on trade receivables linked to a Saks Global Chapter 11 filing.

• "Looking ahead, recent developments in the Middle East have introduced additional uncertainty across the sector," Executive Chairman Gildo Zegna said on Friday.

• Despite this, the group's ambitions and determination to deliver on them remained unchanged, he said.

• Revenues at Zegna group rose 4.6% on an organic basis in the fourth quarter thanks to double-digit growth in the Americas, the group reported earlier this year.

($1 = 0.8648 euros)