Strong trading indicates likely increase in operating and net profit for first half year of between 20% and 40% against the comparative prior period
06 Aug 2012
SIX Swiss Exchange requires that issuers make an announcement without delay where the foreseeable profit or loss for a given period is expected to deviate significantly from the profit or loss achieved in the prior-year period. Both significant falls and increases in the anticipated profit or loss require the publication of an ad hoc notice to the market. In accordance with these requirements Richemont makes the following announcement:
Trading for the four months ended July 2012 showed sales rising 24 % on a reported basis and 13 % on a constant currency basis against the comparative period. On this basis, Richemont’s operating profit for the six months ending 30 September 2012 is likely to show an increase of between 20 % and 40 % compared to the first six months of the last financial year. Net profit for the same period may increase by between 20 % and 40 %.
Many factors driving these results are uncertain and beyond the Group’s control and may therefore lead to actual levels of profit growth for the six month period below or above the ranges indicated. Those uncertain factors include the level of trading during August and September 2012 and the impact of exchange rate movements on the Group’s results. Specifically, exchange rate movements may significantly impact net financial income / expense and therefore net profit for the period.