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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.

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