Richemont Marks Solid H1 Profit Rise of 28% to €560 Million

Swiss-based luxury goods firm Richemont announced a year-over-year operating profit increase of 28 percent to €560 million ($820 million) in the first six months ended September 30. Total group sales for the period rose 11 percent to €2,548 billion ($3.732 billion).

Sales by the firm’s jewelry “maisons” increased 9 percent year-over-year to €1.277 billion ($1.87 billion), and operating profits for this sector were €367 million ($538 million), a 12 percent increase over the previous year.

Sales by specialist watchmakers increased 18 percent to €707 million ($1.035 billion).

The firm noted particularly strong growth in the Asia-Pacific region.