Market Overview

Richemont Posts Decline In Profit


Compagnie Financiere Richemont SA (OTC: CFRUY) reported around 24% drop in its profit for the first six months of its financial year.

Richemont's profit for the period slipped to EUR908 million ($1.12 billion), versus a year-ago profit of EUR1.19 billion. However, analysts were expecting a profit of EUR1.09 billion.

Its sales jumped 2% to EUR5.43 billion versus EUR5.32 billion. Analysts expected sales of EUR5.39 billion.

Operating profit fell 4% to €1 311 million, while operating margin shrank by 160 basis points to 24.1%.

Richemont shares rose 1.22% to close at $8.27 yesterday.


Related Articles (CFRUY)

View Comments and Join the Discussion!

Posted-In: profitEarnings News

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at