Richemont Sales Climb 3.1%, With Net Profit Flat in Fiscal 2017-18
7 days ago - By WWD
LONDON - A strong performance in Asia Pacific boosted sales at Compagnie Financière Richemont 3.1 percent to 10.98 billion euros, while net profit remained broadly flat in the 12-month period at 1.22 billion euros.
At constant exchange, sales were up 8 percent and stripping out the impact of the watch buybacks, they rose 7 percent at constant exchange. Operating profit climbed 4.5 percent to 1.84 billion euros. The company said its net profit suffered in the period from one-off items.
Johann Rupert, the company's chairman, founder and shareholder of reference, said an improved...
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