BREAKING NEWS

BREAKING NEWS

Luxury goods group Hermes posts higher second quarter sales

Now Reading:

Luxury goods group Hermes posts higher second quarter sales

Luxury goods group Hermes posts higher second quarter sales
© Copyright :
Regis Duvignau(Reuters)
Text size Aa Aa

PARIS (Reuters) - Luxury handbag maker Hermes International <HRMS.PA> reported that sales in the second quarter had grown faster than in the previous three-months, lifted by strong demand in China.

The maker of Birkin handbags, which are worth more than a small car, said sales revenue rose 7.2 percent to 1.46 billion euros ($1.70 billion) for the three months through June.

Sales rose 12 percent at constant exchange rates, up from 11 percent during the previous quarter. Analysts expected a 10 percent increase.

Sales in China kept on growing at a double-digit rate as in the past years, Chief Executive Axel Dumas told reporters.

The company said it expects operating profitability in the first half of this year to be close to the record level reached in the first half of 2017.

(Reporting by Inti Landauro; Editing by Sudip Kar-Gupta)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.