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CORRECTED-Richemont says expects 80 percent jump in half year profit
October 17, 2017 / 5:52 AM / 2 months ago

CORRECTED-Richemont says expects 80 percent jump in half year profit

(Corrects to show sales increased 12 percent in constant currency.)

ZURICH, Oct 17 (Reuters) - Richemont said it expects an 80 percent increase in profit for the six months ended Sept. 30 after the world’s second biggest luxury group reported improving sales and the end of inventory buybacks.

The owner of Cartier said sales had increased by 12 percent when currency effects were stripped out compared with a year earlier while operating profit is likely to rise 45 percent earlier as large markets like China have recovered.

Richemont is due to report half-year results on Nov. 10.

Reporting by John Revill

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