Plus   Neg

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
Shares of Nordstrom Inc. (JWN) slipped 10 percent in extended hours on Thursday after the department store chain's full-year revenue outlook fell short of Street estimates. Seattle-based Nordstrom's third-quarter profit dropped to $67 million or $0.39 per share from $114 million or $0.67 per share... Shares of Nvidia Corp. (NVDA) plunged 16% in extended session on Thursday after chip designer's third-quarter revenues and fourth quarter outlook fell short of Wall Street estimates. Santa Clara, California-based Nvidia's third-quarter profit surged to $1.23 billion or $1.97 per share from $838 million... Retail giant Walmart Inc. on Thursday reported a 2 percent decrease in profit for the third quarter from last year as higher revenues were offset by one-time charges. However, adjusted earnings per share beat analysts' expectations, while revenue missed estimates. Looking ahead, the company lowered its outlook for fiscal 2019 reported earnings, but raised its outlook for adjusted earnings.
Follow RTT