Richemont has published a mixed set of FY21/22 results, with stronger-than-expected sales and an operating profit that missed consensus expectations.
Although the group is very confident “to maintain the necessary agility and flexibility to manage global uncertainties”, the chairman warned the recovery in China will be slower and softer than expected.
The lack of meaningful updates on the separation of YNAP has also disappointed the market.
20 May 2022
Expects a slower-than-expected recovery in China
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Expects a slower-than-expected recovery in China
Compagnie Financiere Richemont SA (CFR:SWX) | 0 0 0.0%
- Published:
20 May 2022 -
Author:
Jie Zhang -
Pages:
3
Richemont has published a mixed set of FY21/22 results, with stronger-than-expected sales and an operating profit that missed consensus expectations.
Although the group is very confident “to maintain the necessary agility and flexibility to manage global uncertainties”, the chairman warned the recovery in China will be slower and softer than expected.
The lack of meaningful updates on the separation of YNAP has also disappointed the market.