Swiss firm Richemont expects profit surge
AFP · 23 Apr 2013, 15:37
Published: 23 Apr 2013 15:37 GMT+02:00
- Richemont joins up with Chinese luxury chain (20 Jan 13)
- Currency effect lifts Richemont profits (09 Nov 12)
- Luxury giant Richemont sees sales soar (06 Sep 12)
The world's second largest luxury good group, which owns the Cartier, Piaget, Jaeger-LeCoultre and Montblanc brands among others, is set to publish its full results for the financial year on May 16th.
Richemont unveiled some tendencies in advance however, in accordance with Swiss stock exchange rules, which require companies to make public any significant anticipated changes in its results.
In large part thanks to "favourable exchange rates," the Swiss company said it also expected annual sales to rise by 14 percent, while its operating profit for the year ending March 31st would likely swell by 18 percent.