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Hermes bounces back

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Hermes bounces back

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French luxury goods group Hermes saw its operating profit rise by 52 percent in the first half of the year.

It came in at 304.5 million euros from 199.8 million euros a year ago.

Hermes, best known for its printed silk scarves and leather handbags costing thousands of euros, forecast sales at constant exchange rates could rise 12 percent this year.

The luxury goods industry, whose revenues fell eight percent last year according to US consultants Bain & Co, is crawling out of its worst downturn in decades, buoyed by travelling shoppers from emerging markets.