Hermès: 11% net income up 11% at 1,221 million euros
(CercleFinance.com) - Hermès International has reported FY 2017 sales of 5,549 million euros, up 7% as reported and up 9% at constant exchange rates, mainly driven by higher volumes.
Underlying operating income rose by 13% to 1,922 million euros, from 1,697 million euros in 2016. The group's operating margin (34.6% of sales) rose by 2.0 points relative to 2016. "Thanks to the success of the collections in the second half of the year, to the very high level of productivity at the production sites and to the positive impact of foreign exchange hedges from 2016," says the group.
Consolidated net income, group share, rose by 11% to 1,221 million euros, representing 22% of sales and the highest level ever.
The group has confirmed an ambitious sales growth target at constant exchange rates.
At its AGM to be held on 5 June 2018, the group will propose a dividend of 4.10 euros per share. At the AGM it will also propose an extraordinary dividend of 5.00 euros per share.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Underlying operating income rose by 13% to 1,922 million euros, from 1,697 million euros in 2016. The group's operating margin (34.6% of sales) rose by 2.0 points relative to 2016. "Thanks to the success of the collections in the second half of the year, to the very high level of productivity at the production sites and to the positive impact of foreign exchange hedges from 2016," says the group.
Consolidated net income, group share, rose by 11% to 1,221 million euros, representing 22% of sales and the highest level ever.
The group has confirmed an ambitious sales growth target at constant exchange rates.
At its AGM to be held on 5 June 2018, the group will propose a dividend of 4.10 euros per share. At the AGM it will also propose an extraordinary dividend of 5.00 euros per share.
Copyright (c) 2018 CercleFinance.com. All rights reserved.