- FashionUnited |
Richemont reported its net profit for H1 dropped on Thursday. Revenues increased by 9 percent from the same period last year.
The company's net profit for H1 was 869 million euros, down from 2,253 million euros a year earlier. Furthermore, revenues climbed to 7,397 million euros. Compared to 33 percent a year ago, the profit margin of the company decreased to 12 percent.
Richemont is a Switzerland-based luxury goods holding company. Through its various subsidiaries, Richemont designs, manufactures, distributes and sells premium products. Richemont is a publicly traded company, listed on both the SIX Swiss Exchange and on the JSE Securities Exchange.
As of 2019, Richemont has more than 28,000 employees and operates over 100 stores.
This story was generated by Arria, an AI tool that turns data into stories. You can report errors or bugs to firstname.lastname@example.org.