News In the last quarter of 2004, the third of its 2004/2005 financial year, the Richemont luxury group achieved 9% sales growth (13% at constant exchange rates).
In market terms the biggest rise was achieved in Europe (+ 12%) where the leading markets of France and Italy did particularly well with +17% and +10% respectively. In Japan the weakness of the yen went some way to affecting the results (+5% but +9% at constant exchange rates). The same applies to the Americas with the fall in value of the dollar (+ 6% but + 15% at constant exchange rates) and for the Asia Pacific region (+8% and +16% respectively).
By sector, sales rose by 7% (12% at constant exchange rates) for companies specialising in jewellery (Cartier and Van Cleef & Arpels), 10% (14%) for watch companies (Baume & Mercier, IWC, Jaeger-LeCoultre, A. Lange & Söhne, Panerai, Piaget and Vacheron Constantin) and 9% (12%) for the makers of writing instruments (Montblanc and Montegrappa). The companies operating in the leather goods and household accessories sectors (Alfred Dunhill and Lancel) saw their sales rise by 4% at constant exchange rates, although they remained flat in absolute terms.
In the first half of the 2004-2005 financial year, Richemont’s sales had risen by 14% to 1.74 billion euros with a net profit of 411 million (+42%).
February 08, 2005