(AOF) – Biggest drop in the Swiss SMI index, Richemont fell 6.72% to 143.55 Swiss francs, dragged in its wake LVMH (-3.17% to 864 euros), Hermès (-3.82 % to 1920 euros) and Kering (-1.42% to 492.75 euros) after the publication of a disappointing activity over the quarter to the end of June. The Swiss luxury group has unveiled revenues up 14% for the first quarter, which ended at the end of June, at 5.32 billion euros. Growth amounted to 19% at constant exchange rates. The FactSet consensus was 5.43 billion euros.
Activity was driven by Asia-Pacific, which posted growth of 32% (+40% at constant exchange rates) to 2.24 billion while it fell by 4% (-2% at constant exchange rates). exchange rates) in the Americas at 1.096 billion euros.
In Asia-Pacific, revenues benefited from the lifting of restrictions related to Covid-19.