GENEVA (dpa-AFX) - Richemont (CFRUY.PK) said higher sales, a higher gross profit and good cost control have resulted in a six-month operating profit of 1.95 billion euros, up by 331% over the prior-year period. Sales increased by 63% at actual exchange rates and 65% at constant exchange rates from a year ago. On a two-year comparison basis, sales exceeded pre-Covid-19 levels by 20% and 24%, at actual and constant exchange rates, respectively, the company noted.
Headline earnings for the period was 1.23 billion euros compared to 154 million euros, previous year. Headline earnings per share was 2.150 euros compared to 0.272 euros.
Profit attributable to owners of the parent company increased to 1.23 billion euros from 159 million euros, last year. Earnings per ?A' share/10 ?B' shares was 2.145 euros compared to 0.281 euros. Sales were 8.91 billion euros compared to 5.48 billion euros, previous year.
Richemont also said the company is in advanced talks with Farfetch with a view to enhancing the partnership it established last year. The scope of the discussions includes: Farfetch investing directly in YOOX NET-A-PORTER as a minority shareholder, and Richemont Maisons joining the Farfetch marketplace.
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