Cartier Owner Sales Lifted By Jewellery, Improving Asia [Barron's]
COMPAGNIE FNCE RCH UN/ADR (CFRUY)
NASDAQ:AMEX Investor Relations:
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Source: Barrons
A rebound in some Asian markets, especially China, also contributed to its performance, resulting in sales of 10.6 billion euros ($12.3 billion) between April and September -- the first half of Richemont's financial year -- a rise of five percent. Advertisement - Scroll to Continue Stripping out exchange rate factors, the increase was 10 percent, the company said. The sales figure compares with an analysts' consensus forecast compiled by the AWP agency of 10.4 billion euros. Richemont chairman Johann Rupert called the group's performance "solid", saying in a statement it had been achieved "against a persistently complex macroeconomic and geopolitical backdrop". Richemont's net profit came in at 1.8 billion euros, a massive increase over the 457 million reported a year earlier when profits were weighed down by a major asset writedown. Advertisement - Scroll to Continue Sales growth was in double digits in Europe, the Americas and the Middle East, while China, Hong Kong,
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