Hermès: record profitability in H1
(CercleFinance.com) - Hermès International's operating profitability reached a record level in the first half of the year, the luxury goods group announced this morning; the share was integrated into the CAC 40 index 18 June.
Published on 20 July, H1 sales of 2.85 billion euros were up 5% as reported, with 11% growth at constant exchange rates.
Unveiled this morning, underlying operating income rose by 6% to 985 million euros, bringing its margin to a record of 34.5%, i.e. 20 basis points above its level a year ago. Management has mentioned particularly healthy growth and (...) the accretive impact of FX factors.
Adding a capital gain of 53 million euros made on property, which by its essence is non-recurrent, the aggregate reached 1,037 million euros.
Overall, interim earnings rose by 17% to 708 million euros.
Hermès finally confirms its (unquantified) annual forecasts of "ambitious sales growth at constant exchange rates".
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Published on 20 July, H1 sales of 2.85 billion euros were up 5% as reported, with 11% growth at constant exchange rates.
Unveiled this morning, underlying operating income rose by 6% to 985 million euros, bringing its margin to a record of 34.5%, i.e. 20 basis points above its level a year ago. Management has mentioned particularly healthy growth and (...) the accretive impact of FX factors.
Adding a capital gain of 53 million euros made on property, which by its essence is non-recurrent, the aggregate reached 1,037 million euros.
Overall, interim earnings rose by 17% to 708 million euros.
Hermès finally confirms its (unquantified) annual forecasts of "ambitious sales growth at constant exchange rates".
Copyright (c) 2018 CercleFinance.com. All rights reserved.