LONDON – Richemont ended its year on a high with sales climbing 11 percent at constant exchange to 22.4 billion euros in the period ending on March 31.
The luxury giant, owner of brands ranging from Cartier and Van Cleef & Arpels to Chloé, said that fourth-quarter sales were up 13 percent, compared with 11 percent in the previous quarter.
Sales during the year were fueled by growth in all business areas, regions and distribution channels at constant rates as well as by sustained double-digit performance at jewelry maisons and in the Americas throughout the year.
Operating profit climbed 23 percent at constant exchange to 4.5 billion euros, bolstered by strong top-line growth and cost discipline, which Richemont said mitigated the effect of weaker main trading currencies and higher raw material costs.
Profit for the period rose to 3.5 billion euros from 2.8 billion euros, due in part to the non-recurrence of the Yoox Net-a-porter write-down in the prior year.
