RICHEMONT SALES UP 10% IN H1
Swiss luxury group Richemont SA, which owns, among other bands, Cartier, Van Cleef & Arpels, Piaget, Montblanc, has reported a 10% rise year-on-year in sales for the six months ended September 30, totaling €5.61 billion ($6.5 billion). According to Gem Konnect, net earnings for the period were up 80% to €974 million ($1.1 billion).
According to the report, there were “double digit growth in jewelry and watches, and overall double digit sales increases in mainland China, Korea, Hong Kong and the United Kingdom”.
Group Chairman, Johann Rupert, stated: “The first half of the year’s results and cash flow on a comparative basis have been exceptional, primarily due to weak results in the prior year period. While we cannot predict the environment for the full year, it is clear that the full year results on a comparative basis will not see the exceptional level of growth reported in the period under review”.