By Euan Conley
Richemont SA (CFR.EB) said on Friday that its first-half profit had jumped 80%, bolstered by strong growth across all of its divisions.
Net profit at the Swiss luxury-goods company for the six months ended Sept. 30 rose to 974 million euros ($1.13 billion) from EUR540 million during the same period a year earlier. Half-year operating profit was EUR1.17 billion.
Revenue for the half-year period rose 10% to EUR5.61 billion, with Richemont citing strong sales at the jewelry maisons segment and double-digit growth in China, Hong Kong and the U.K.
"While we cannot predict the environment for the full year, it is clear that the full-year results on a comparative basis will not see the exceptional level of growth reported in the period under review," Johann Rupert, Richemont's chairman, said.
The Switzerland-based owner of Cartier jewelry and watches had said in October that it expected an 80% rise in its first-half net profit and operating profit to increase by 45%.
Richemont on Friday also said on Friday that it had appointed Jerome Lambert as chief operating officer.
Write to Euan Conley at [email protected]