This content is not available in your region

Richemont warns on Q4 results

Richemont warns on Q4 results
Text size Aa Aa

Swiss luxury goods group Richemont is cautioning investors about its fourth quarter results – for the period from January to March.

It said that was because of the strength of the Swiss franc and comparatively high earnings from a year earlier.

The world’s second largest luxury goods group – behind French rival LVMH – enjoyed brisk sales in Asia which were up by 23 percent in the final three months of the year.

The Geneva-based company’s shares retreated from recent gains.

The luxury goods industry has recovered strongly from its worst slump in decades thanks to buoyant demand in Asia, particularly China.