By Pietro Lombardi

Compagnie Financiere Richemont SA's profits fell sharply in its first half-year as the coronavirus pandemic hit sales hard, but the company said it saw some positive trends in the second quarter.

The Swiss luxury conglomerate, which owns jewelry brands like Cartier and Van Cleef & Arpels, posted an 82% decline to 159 million euros ($188.1 million) in net profit for the period to Sept. 30, it said Friday.

Sales fell 26% to EUR5.48 billion, with the company seeing positive trends in the second quarter after a sharp decline in the first three months of its fiscal year. Sales in China rose by 78% in the six months.

"Throughout the first six months of our financial year, the Covid-19 pandemic impacted our trading and operations with unprecedented levels of disruption," Chairman Johann Rupert said.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com; @pietrolombard10

(END) Dow Jones Newswires

11-06-20 0138ET