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Agache Profit Slips 1% in Year

PARIS -- Financiere Agache, Bernard Arnault's main holding company, posted a 1 percent drop in net profit to $575.8 million (3.3 billion francs) at current exchange rates, as extraordinary items bit into its performance.<BR><BR>Agache also said...

PARIS — Financiere Agache, Bernard Arnault’s main holding company, posted a 1 percent drop in net profit to $575.8 million (3.3 billion francs) at current exchange rates, as extraordinary items bit into its performance.

Agache also said consolidated sales grew 10 percent, to $4.76 billion (27.6 billion francs) last year, compared with sales of 25.15 billion francs in 1992.

Bon Marche, another Arnault holding, which includes the Left Bank department store, posted a 2 percent rise in net profit, to $46.6 million (270.5 million francs) in 1993. In 1992, the company earned 265.7 million francs.

Excluding non-recurring financial charges, Bon Marche said that net had risen 5 percent last year.