The Swiss luxury holding company Richemont, which controls brands such as Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, Iwc, Panerai and Montblanc, registered a net growth in turnover (+24%) in the period April-July 2012.
In local currencies (Swiss franc) the increase was 13%. Based on these figures, the Group, listed on the Zurich stock exchange and led by the South African Johann Rupert (there are also two Italians on the board, Franco Cologni and Ruggero Magnoni), he expects an operating profit to grow by 20/40% for the first half of the 2012/2013 accounting year (which will close at the end of September). The increase in net income is expected to be of the same order of magnitude, the company said in a statement.
Richemont, however, puts his hands forward specifying that the movements of the currencies in the months of July and August could significantly affect the results of the first six months of the year.
