GENEVA (dpa-AFX) - Swiss luxury goods group Compagnie Financiere Richemont AG (CFRUY.PK) reported Friday that its net profit for the half year slid by 61 percent to 869 million euros, while earnings per share (1 A share/10 B shares) fell by 62 percent to 1.533 euros.
Operating profit increased by 3 percent to 1.165 million euros, reflecting higher sales and gross profit, partly offset by controlled increases in costs. Operating margin was 15.7 percent compared to 16.6 percent a year ago. Excluding Online Distributors, operating margin was 21.8 percent.
For the first half, sales reached 7.397 billion euros, up 9 percent at actual exchange rates and 6 percent at constant exchange rates. For Online Distributors, sales grew by 6 percent at actual exchange rates.
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