Adds information on first-half sales in Asia and the company’s expectations for first-half operating profit
French luxury-goods company Hermes International SCA (RMS.FR) said Friday that second-quarter revenue rose due to increases in all its geographical areas.
Quarterly revenue was 1.46 billion euros ($1.7 billion), compared with EUR1.36 billion the year previous.
The company said first-half sales in Asia, excluding Japan, rose 15% with "positive momentum in continental China and the whole region."
Luxury-goods companies have seen a resurgence in revenue as domestic spending picks up in the Asia-Pacific region.
The maker of the iconic Birkin and Kelly bags said currency fluctuations had a negative effect of EUR165 million on revenue at the end of June.
Hermes confirmed its medium-term outlook of revenue growth at constant-exchange rates "despite growing economic, geopolitical and monetary uncertainties around the world."
Hermes reports its first-half results on Sept. 12 and the company said current operating profitability at the end of June–excluding non-recurring items–benefited from healthy growth and the accretive effect of foreign exchange. "It should be close to the record level reached in the first half of 2017," the company said.
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