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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Compagnie Financière Richemont    CFR   CH0210483332

COMPAGNIE FINANCIÈRE RICHEMONT (CFR)
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Compagnie Financiere Richemont : Richemont 1st Half Net Profit Soars on Strong Growth

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11/10/2017 | 07:56am CEST
   By Euan Conley 
 

Richemont SA (CFR.EB) said on Friday that its first-half profit had jumped 80%, bolstered by strong growth across all of its divisions.

Net profit at the Swiss luxury-goods company for the six months ended Sept. 30 rose to 974 million euros ($1.13 billion) from EUR540 million during the same period a year earlier. Half-year operating profit was EUR1.17 billion.

Revenue for the half-year period rose 10% to EUR5.61 billion, with Richemont citing strong sales at the jewelry maisons segment and double-digit growth in China, Hong Kong and the U.K.

"While we cannot predict the environment for the full year, it is clear that the full-year results on a comparative basis will not see the exceptional level of growth reported in the period under review," Johann Rupert, Richemont's chairman, said.

The Switzerland-based owner of Cartier jewelry and watches had said in October that it expected an 80% rise in its first-half net profit and operating profit to increase by 45%.

Richemont on Friday also said on Friday that it had appointed Jerome Lambert as chief operating officer.

Write to Euan Conley at euan.conley@dowjones.com

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Financials (€)
Sales 2019 14 003 M
EBIT 2019 2 407 M
Net income 2019 2 171 M
Finance 2019 3 793 M
Yield 2019 2,49%
P/E ratio 2019 18,19
P/E ratio 2020 20,02
EV / Sales 2019 2,50x
EV / Sales 2020 2,24x
Capitalization 38 771 M
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 84,2 €
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Johann Peter Rupert Executive Chairman
Jérôme Lambert Chief Operating Officer & Director
Burkhart Grund Chief Financial Officer & Director
Alan Grant Quasha Non-Executive Director
Jan Rupert Non-Executive Director
Sector and Competitors