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,
