• Switzerland edition
 

Luxury giant Richemont sees sales soar

Published: 06 Sep 2012 08:24 GMT+02:00
Updated: 06 Sep 2012 08:24 GMT+02:00

"The weakening of the euro against the dollar, in particular, had a positive impact on the group's reported sales," it said in a statement.

The group, which owns the Cartier, Piaget, Jaeger-LeCoultre and Montblanc brands, said that at constant exchange rates the rise in sales for the period ending August 31st stood at 13 percent.

During the same period last year, Richemont saw its sales, at constant exchange rates, jump by 35 percent.

"The prevailing economic uncertainties, the moderation in sales growth since May and the very strong basis of comparison do not prevent us from
maintaining our ambitious investment programme," company chief executive Johann Rupert said in a statement.

"Indeed we remain confident in the long term potential" of Richemont's brands, he added.

On a region-by-region basis, the company said sales in Europe during the past five months had jumped by 23 percent in terms of actual exchange rates and by 19 percent seen in constant rates, the numbers for Asia-Pacific were 27 and 12 percent and for the Americas they were 19 and six percent.

Richemont, which is set to report its half-year results on November 9th, confirmed the outlook given last month that operating profit for the period
would be 20-40 percent higher than last year.

"The increase in net profit for the six-month period is also likely to be in that range," Rupert said.

Following the news, Richemont saw its share price inch up 0.59 percent to 59.50 Swiss francs in mid-morning trading.

Your comments about this article

Today's headlines
Last volume of Swiss history lexicon finished
Initial volumes of the dictionary of Swiss history (in French) next to other reference books. Photo: Ludovic Péron

Last volume of Swiss history lexicon finished

The final volume of a massive dictionary of Swiss history is set to be published at the end of the week. READ  

Federer poised for home-town glory in Basel
Federer at Swiss Indoors last year. Photo: AFP

Federer poised for home-town glory in Basel

Life couldn't be better — or more surprising — for Switzerland's Roger Federer as the 33-year-old takes aim at multiple major goals starting with a sixth title at his home Swiss Indoors tennis tournament in Basel. READ  

WHO slammed for 'slow' response to Ebola virus
Hospital doctor in Philippines checks an isolation room for Ebola patients. Photo: Ted Aljibe/AFP

WHO slammed for 'slow' response to Ebola virus

The Geneva-based World Health Organization insisted on Tuesday it would probe complaints that it had been slow to wake up to the scale of Ebola, but insisted the focus now must be on battling the epidemic. READ  

Majority back new immigration curbs: poll
Detail of poster for Ecopop proposal. Photo: ecopop.ch

Majority back new immigration curbs: poll

A majority of Swiss citizens support a proposal to limit annual net immigration to 0.2 percent of Switzerland’s population, a new survey indicates. READ  

Eritrean refugees find shelter at Swiss abbey
Eritrean refugees in front of Einsiedeln abbey. Photo: Fabrice Coffrini/AFP

Eritrean refugees find shelter at Swiss abbey

After a harrowing flight from autocratic Eritrea, the last place Nuguse Teklestion expected to call home was the pastoral grounds of a Swiss monastery housing a mysterious black Madonna. READ  

Celebrated Swiss portrait photographer dies
Burri at the Elysée museum last year. Photo: Elyséee Museum

Celebrated Swiss portrait photographer dies

Swiss photographer René Burri, celebrated for his portraits of Che Guevara and Pablo Picasso, died Monday in Zurich aged 81, the Magnum agency said. READ  

'Monstrous' child molester jailed 15 years
Photo: Canton of Ticino

'Monstrous' child molester jailed 15 years

A 35-year-old man who sexually abused five girls of primary school age a total of more than 900 times was sentenced to a 15-year prison term by a court in the canton of Ticino on Monday. READ  

Fourteen-year-old Swiss whiz kid enrols at uni
Bastian Eichenberger: speaks nine languages. Photo: Sandra Meyndt/University of Freiburg

Fourteen-year-old Swiss whiz kid enrols at uni

A Swiss teenager has become the youngest university student in Germany, according to media reports in Switzerland. READ  

Electrolux to close Swiss manufacturing plant
Photo: AFP

Electrolux to close Swiss manufacturing plant

Swedish home appliances maker Electrolux plans to close its production plant in Schwanden in the canton of Glarus, eliminating 120 full-time jobs, partly because of tighter rules about Swiss-made products. READ  

Three kids hospitalized in crossing car crash
Photo: Zurich cantonal police

Three kids hospitalized in crossing car crash

Three children are in hospital, including a six-month-old infant, after a car collided with a family walking across a pedestrian crossing in Oberglatt, a municipality near the Zurich airport, police said on Monday. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Features
Eritrean asylum seekers find refuge in Swiss monastery town
National
Expat American professor disputes 'unjust' Swiss citizenship rejection
Features
Swiss-based English expat writer lauds immigrant 'brains and brawn'
International
Our survey: Switzerland third priciest for food and drink from back home
National
Zurich market gardener sets world 'record' for heaviest pumpkin
National
Report: Switzerland's residents richer than before economic crash
Features
Geneva lab sleuths use high tech to help art world uncover fakes
National
Father of Scot missing since early September fears Swiss trauma
National
Foreign women give birth to rising share of newborns: latest figures
National
'Giant's penis' bloom in Basel uni botanical garden bigger than ever
National
Switzerland's voters reject public health insurance proposal
National
Zooming foreign immigration continues to boost Swiss population
National
Scientific study rings alarm over wellbeing of Swiss cows with bells
National
Geneva MP seeks ban on charging for tap water in restaurants
Business & Money
Switzerland's residents top world financial wealth list: Allianz report
National
Saint Maurice abbey in Valais celebrates 1,500 years of history
National
Streaming movie video service Netflix arrives in Switzerland
National
Professional Chilean base jumper dives to death in Swiss Alps
Education
ETH Zurich remains top university in Europe: QS world rankings
National
Switzerland's housing vacancy rate jumps: new federal figures
National
Swiss football club fires team masseuse over explicit sex video
National
Geneva police arrest easyJet passenger over hand luggage row
Business & Money
Latest forecasts for Swiss economic growth turn less bullish
Sport
Formula One legend Schumacher to continue treatment at Swiss home
National
Former federal planning official calls for nine Swiss cantons
Features
The Local gets the lowdown on mushroom picking in Switzerland
National
Virgin boss Richard Branson's son rescued from peak of Matterhorn
National
Swiss President Didier Burkhalter's commute turns Twitter sensation
Features
High-tech cameras give dizzy view of Eiger's north face (VIDEO)
Politics
Baden municipal council strips 'nude selfies mayor' of duties
Business & Money
Switzerland stays atop competitiveness table for sixth year
National
Federal parliament secretary agrees to step down over nude selfies
National
Swiss residents pick Swedes as ideal European soul mates: survey
National
Zurich officials call project to move prostitutes to 'sex boxes' a success
National
Swiss gays recognized as parents of child born to surrogate mother
Health
Increase in mountain bike accidents keeps Swiss hospitals busy
National
Swiss policeman belatedly honoured for saving Jews from Holocaust
National
'Suicide tourists' to Switzerland double in three years: study
National
Swiss Post SMS scheme gets stamp of approval after pilot project
Business & Money
American tax evasion crackdown hits Swiss private banks' bottom line
Politics
Woman accuses Swiss politician in nude selfies scandal of lying
National
Villagers in Graubünden valley reject hydro plant to protect vultures
Business & Money
Court rules against appellation for absinthe from Neuchâtel valley
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

2,272
jobs available