Richemont H1 results prompt 5% cut to our earnings estimates
We lower our FY24 and FY25 estimates by 5% to reflect i/ the weaker than expected H1 2024 performance (mainly at the EBIT level), and ii/ lower growth prospects for FY24. Nevertheless, we expect Richemont's Jewellery Maisons (Cartier and Van Cleef & Arpels) to continue to gain market share and
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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