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Confident Hermes raises dividend

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Confident Hermes raises dividend

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Hermes’ confidence in the global luxury goods market was in evidence as it upped its dividend to shareholders by 33 percent.

That reflects an increase in its operating income by a third to 885 million euros last year.

The family-owned French group cited a rise in tourist spending in Europe and buoyant demand in Asia and the Americas.

Net income rose 41 percent to 594 million euros, Hermes said helped by the sale of its stake in fashion house Jean-Paul Gaultier.

Speaking about the full year payout, much of which will flow to the Hermes family, chief executive Patrick Thomas told reporters: “It should be seen as exceptional.”

This week US luxury jeweller Tiffany also forecast strong sales and profits this year.