Hermès: record profitability in H1

(CercleFinance.com) - Hermès International's operating profitability reached a record level in the first half of the year, the luxury goods group announced this morning; the share was integrated into the CAC 40 index 18 June.


Published on 20 July, H1 sales of 2.85 billion euros were up 5% as reported, with 11% growth at constant exchange rates.

Unveiled this morning, underlying operating income rose by 6% to 985 million euros, bringing its margin to a record of 34.5%, i.e. 20 basis points above its level a year ago. Management has mentioned particularly healthy growth and (...) the accretive impact of FX factors.

Adding a capital gain of 53 million euros made on property, which by its essence is non-recurrent, the aggregate reached 1,037 million euros.

Overall, interim earnings rose by 17% to 708 million euros.
Hermès finally confirms its (unquantified) annual forecasts of "ambitious sales growth at constant exchange rates".


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