F-NEWS Editor's Pick
Richemont Full-Year Profit Beats Estimates On Asian Sales
Cie. Financiere Richemont SA (CFR), the second-biggest luxury goods company, reported full-year profit that beat analysts’ estimates as sales were boosted by buoyant demand for high-end goods in the Asia-Pacific region.
Net income climbed 43 percent to 1.54 billion euros ($1.96 billion) in the 12 months through March 31, the Geneva-based company said today in a statement. The average of 14 analyst estimates compiled by Bloomberg was 1.36 billion euros. Revenue gained 29 percent to 8.87 billion euros, including growth of 43 percent in Asia-Pacific.
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Net income climbed 43 percent to 1.54 billion euros ($1.96 billion) in the 12 months through March 31, the Geneva-based company said today in a statement. The average of 14 analyst estimates compiled by Bloomberg was 1.36 billion euros. Revenue gained 29 percent to 8.87 billion euros, including growth of 43 percent in Asia-Pacific.
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