Richemont : Cartier is still at the front of the pack, very solid full-year results
>It was to be expected: continued strong growth in jewellery sees the group turn in full-year 2021 EBIT 10% ahead of expectations - Richemont's full-year sales to end-March 2021 (€ 13.144bn, slightly higher than our forecast, close to the consensus, of € 12.964bn) show Q4 business ahead of expectations (sales of € 3.48bn, the beat relative to our forecast comes to nearly € 200m no less) but the positive differential is even more visible at the level of FY EBIT where...Compagnie Financiere Richemont is engaged in the luxury goods market. Co.'s interests encompass some names such as Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Co.'s luxury goods businesses are separated into four segments: Jewellery Maisons (design, manufacture and distribution of jewellery products), Specialist Watchmakers (design, manufacture and distribution of precision timepieces), Montblanc Maison (design, manufacture and distribution of writing instruments) and Other Businesses (Alfred Dunhill, Lancel, ChloA(c), Net-a-Porter, Purdey, textile brands and other manufacturing entities).
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