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Richemont Results Marred by Varying Exchange Rates

LONDON -The weakening of the dollar and yen against the euro dented sales growth at Compagnie Financiere Richemont SA in the third quarter ended Dec. 31.<BR><BR> The company, which released a trading statement Tuesday, said revenues rose 10 percent in...

LONDON -The weakening of the dollar and yen against the euro dented sales growth at Compagnie Financiere Richemont SA in the third quarter ended Dec. 31.

The company, which released a trading statement Tuesday, said revenues rose 10 percent in the period, but would have climbed 15 percent if exchange rates had remained constant.

The increases were broadly in line with analysts’ expectations. The 15 percent sales growth at constant exchange rates was above expectations at Merrill Lynch, which had forecast 12 percent.


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