The luxury group Richemont recorded sharply higher results during its staggered 2021/22 financial year, driven in particular by the United States.
Turnover for the financial year ended at the end of March amounted to 19.2 billion euros (just over 19.7 billion francs during the day), a jump of 46% over one year and of 44% excluding exchange rate effects, a result qualified as “record”, indicates Friday a press release from the owner of Cartier.
Net profit improved by 61% to 2.01 billion euros. Operating profit (Ebit) soared by 129.4% to 3.39 billion and the related margin rose to 17.7%, against 11.2% a year earlier.
The Board of Directors proposes the payment of an ordinary dividend increased by 12.5% to 2.25 francs per share for the past financial year, to which is added a special dividend of 1.00 francs.
The results are above the expectations of analysts polled by AWP.
The jewelry division, the largest which includes the Cartier brand, saw its revenues increase by 49% and its margins reached 34.3%. In watchmaking, which includes Vacheron Constantin, sales took off by 53% and the operating margin was 17.3%.
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This article has been published automatically. Source: ats/awp