logo
Plus   Neg
Share
Email

Richemont H1 Profit Rises On Post-tax Gain; Sales Up 21% - Quick Facts

Richemont (CFRUY.PK) reported that its first-half profit rose by 131% to 2.25 billion euros. The company said the increase reflected 1.38 billion euros post-tax non-cash accounting gain on the revaluation of existing YNAP shares. Excluding the amount, profit for the period was 875 million euros, a 10% decline following the acquisition and disposal-related charges. Earnings per share (1 A share/10 B shares) increased by 132% to 3.987 euros on a diluted basis. Headline earnings per share for the period was 1.649 euros compared to 1.767 euros.

In the six month period, sales increased by 21% at actual exchange rates and by 24% at constant exchange rates to 6.81 billion euros. Excluding YNAP and Watchfinder, sales for the period increased by 8% at constant exchange rates, with most regions posting higher sales.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Ford Motor Co. plans to launch an all-electric plugin version of its popular F-150 pickup truck. The announcement was made by Jim Farley, Ford's president of Global Markets, during a presentation at the Deutsche Bank Global Automotive Conference in Detroit. Ford's announcement comes as the auto industry transitions away from fossil fuel-powered transportation to electric vehicles. Logistics giant UPS' investment arm Strategic Enterprise fund made an equity investment in blockchain-for-business company Inxeption Corp. In a statement, Inxeption, an industrial-strength eCommerce platform built on Blockchain, said the investment will be used to create innovative new e-commerce solutions for B2B sellers and buyers. Children's clothing retailer Gymboree Group, Inc. has again filed for Chapter 11 bankruptcy protection, the second time in nearly two years. The company will close more than 800 Gymboree and Crazy 8 stores in the U.S. and Canada. The San Francisco-based retailer said that along with its U.S. subsidiaries, it has filed a petition in the U.S. Bankruptcy Court for the Eastern District of Virginia.
Follow RTT