Hermes revenue for the quarter increased by 7.3% – Kommersant
[ad_1]
French luxury manufacturer Hermes ended the third quarter with revenue of €3.36 billion, up 7.3% year-on-year, it said. reporting. At constant exchange rates, growth would have been 15.6%, above analysts’ consensus forecast of about 13%.
At the end of nine months of this year, Hermes’ revenue reached €10 billion, which is 16.9% more than last year’s result.
The company noted strong sales growth in all its key regions. Thus, in France, revenue for the quarter reached €323 million, which is 18.3% better than last year. Overall, the company’s sales in Europe increased by 16.4%. In the American market, sales growth amounted to 11.9%. But revenue growth in the Asian region turned out to be quite modest – only 1.4%. However, Hermes itself explains this by the extremely successful third quarter of last year for the company, when strict coronavirus restrictions that had been in effect for several months were lifted in China, after which sales jumped sharply.
The company’s shares jumped 3.3% at the opening of trading on the Paris Stock Exchange, but after the adjustment they are quoted just 1% above Monday’s close.
[ad_2]
Source link
