News At the beginning of November, Richemont published its results for the first half of the 2014-2015 financial year ending on 30 September. Over this six-month period, the group recorded a turnover of 5.43 billion Euros at current exchange rates, an increase of 2% (4% at constant exchange rates). Net profit was down 23% to 907 million, as was operating profit, which fell 4% to 1.31 billion.
Europe accounted for 39% of sales and registered an upturn of 6% (current rates). America, too, performed well (16% of sales) with demand continuing to rise in all segments. However the Asia-Pacific region (38% of sales) and Japan recorded downturns of 2 and 13% respectively.
Sales in the watchmaking sector totalled 1.62 billion, an increase of 2%. The result for jewellery was also positive, up by 1% to 2.68 billion. Meanwhile the «others» category, including accessories, fashion, Net-a-Porter and Montblanc, recorded an increase of 5% to 1.12 billion.
October sales were up 4% at current exchange rates. From a geographical point of view, the month of October was subject to the same volatility as the previous six months, with sales buoyant in America, Europe and the Middle East, but in decline in Asia.
November 20, 2014