GENEVA (dpa-AFX) - Richemont (CFRUY.PK) reported that its net profit for the year ended 31 March 2015 is expected to show a decrease of some 36% compared to the previous financial year. The company said the significant decrease reflects non-cash, mark-to-market losses on financial instruments, which include monetary items and derivatives.
Including The Net-A-Porter Group's results, Richemont's sales for the year ended 31 March 2015 would have increased by 5% on a reported basis and by 2% on a constant currency basis compared to the previous financial year. On a re-presented basis, excluding the results of the discontinued operation, Richemont's sales in the year ended 31 March 2015 increased by 4% on a reported basis and by 1% on a constant currency basis.
The Group's results for the year ended 31 March 2015 will be announced in detail on 22 May 2015.
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