Richemont (CFRUY.PK), the Swiss luxury goods group, reported pretax profit of 2.38 billion euros for the year ended 31 March 2013, compared to 1.80 billion euros last year. Profit attributable to owners of the parent company was 2.01 billion euros or 3.595 euros per share, compared to 1.54 billion euros or 2.756 euros per share prior year. The Board of Richemont proposed a dividend of CHF 1.00 per share.
The Group's operating profit was 18% higher than the prior year. Richemont said the net profit rise was largely achieved due to the non-recurrence of non-cash charges related to the strengthening of the Swiss franc in the previous year. Gross profit rose by 15%.
Sales increased by 14% to 10.15 billion euros from 8.87 billion euros last year. Sales rose 9% on a constant currency basis. The Group said the year-on-year sales increase reflected, in particular, growth in its own retail network, bolstered by very strong demand from tourism in Europe. The Americas region also remained strong throughout the year, Richemont said.
Headline earnings for the year ended 31 March 2013 was 2.02 billion euros, compared to 1.55 billion euros last year. Headline earnnigs per share for the year was 3.607 euros, compared to 2.772 euros last year.
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