Richemont : Sales up 24%cc (cc), operating margin 14% shy of our forecasts but significantly impacted by exceptional items. October OK
>Sales up 24%cc (cc), operating margin 14% shy of our forecasts but significantly impacted by exceptional items. Operating margin of 16.7%, +410bp. - Richemont had reported its 5-month sales. The H1 2018-19 sales were up 24% to € 6,808m. By comparing growth rates per region with the 5 month figures, we can see a probable acceleration in organic growth in Japan in September, but a slower pace in Asia-Pacific. The gross margin came to 62.5% in H1, impacted by the integr...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).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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