Richemont experienced a tough H2 16 (FY-end March 2016), resulting in a poor sales performance and deteriorating margins. Reported FY16 sales grew by 6% to €11,076m, pulled up by the favourable FX impact as revenues dwindled by 1% at constant rates. The slumping demand in Asia erased the good performance displayed by other regions, mainly Japan. Reported sales posted double-digit growth in all regions except Asia-Pacific, which declined by 4%. Japan impressed with a 27% surge to €1,
20 May 2016
Bearish short-term outlook
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Bearish short-term outlook
Compagnie Financiere Richemont SA (RITN:ETR) | 0 0 0.7% | Mkt Cap: 44,518m
- Published:
20 May 2016 -
Author:
Rim BEN SALAH -
Pages:
3
Richemont experienced a tough H2 16 (FY-end March 2016), resulting in a poor sales performance and deteriorating margins. Reported FY16 sales grew by 6% to €11,076m, pulled up by the favourable FX impact as revenues dwindled by 1% at constant rates. The slumping demand in Asia erased the good performance displayed by other regions, mainly Japan. Reported sales posted double-digit growth in all regions except Asia-Pacific, which declined by 4%. Japan impressed with a 27% surge to €1,