Richemont: surrounded after its semesters


(CercleFinance.com) – Richemont jumped more than 13% in Zurich, after the publication by the luxury group of its results for the first six months of its financial year, marked by a 40% increase in its net profit from continuing operations to 2.1 billion euros.

Still on the basis of continuing operations, its operating profit increased by 26% to 2.7 billion, i.e. a margin improved by 30 basis points to 28.1%, for turnover up by 24% at 9.7 billion (+16% at constant exchange rates).

Richemont is claiming double-digit increases at real exchange rates in all business areas and channels, as well as in all geographies except Asia-Pacific where momentum nonetheless improved.

‘Our strengths will allow Richemont to weather uncertain times and take advantage of the strength of demand, allowing us to look to the future with a mixture of vigilance and confidence’, comments its president Johann Rupert.

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