Luxury goods company Richemont has disclosed a marginal 1% decrease in sales to €10.07bn ($10.80bn) for the first half of fiscal 2024, compared to €10.
22bn during the same period last year. The company’s financial performance highlights its sustained resilience despite a challenging global environment. The gold standard of business intelligence.
Richemont experienced robust sales growth over the period across all regions except for Asia Pacific. In Europe and the Americas, sales surged by 4% and 10% at actual exchange rates respectively, buoyed by strong local demand and increased tourist expenditure in Europe. However, Asia Pacific sales witnessed a significant contraction of 19%.
Gross profit for the six months ending 30 September declined by 3%, in absolute terms, to €6.77bn, representing 67.2% of sales.
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Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form Richemont’s operating profit from continuing operations fell 17%, or 12% at constant exchange rates, leading to an operating margin of 21.9%.
The company’s profit from continuing operations was reported at €1.72bn in H1 FY 2024, a 20% reduction from the previous year’s �.
