France-based luxury goods retailer Hermes International SA (RMS.PA, HESAY.PK) Wednesday reported a 49.5 percent jump in profit for the first-half of 2011, thanks to a 22 percent growth in revenues and higher margins.
For the period, consolidated net income increased to 290.9 million euros from 194.6 million euros a year ago. This year's result included a gain of 29.5 million euros from the disposal of the company's share in Jean-Paul Gautier Group.
Operating margin improved 3.7 percentage points to 32 percent, the best performance since the IPO, the group noted.
Revenues for the six-months were 1.31 billion euros, up 22 percent from the prior year on the back of "solid" momentum across all geographic regions, primarily in the USA and China.
Sales in France rose 21 percent, while sales in the Americas climbed 34 percent and, in Asia excluding Japan, sales grew 30 percent. On a constant exchange rate basis, sales increased 21 percent year-over-year.
By business sectors, Silks and Textiles reported a 29 percent rise in revenues, while Leather Goods & Saddlery registered a 15 percent growth. Revenues from the Perfumes sector saw an 18 percent improvement.
Looking forward, the company confirmed its full-year target announced in July of 12 to 14 percent sales growth at constant exchange rates and a flat operating margin from 2010's margin of 27.8 percent.
RMS.PA closed Tuesday's trading at 264.95 euros per share, up 2.48 percent on the Paris Exchange.
In the U.S., the company's shares closed at $38.20 per share on Tuesday, up by 1.19 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.