LONDON — First-half sales and profits at Compagnie Financière Richemont will be significantly higher than expected, due chiefly to the non-recurrence of exceptional inventory buybacks, improved trading and currency changes, the company said Tuesday.
According to Richemont, in the six months ended Sept. 30, sales rose 10 percent on a reported basis and 12 percent on a constant currency basis compared with the same period last year. Richemont’s operating profit for the six months is likely to show a gain of approximately 45 percent against the comparative period, while net profit is set to rise by about 80 percent.
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