Equity reports

Get to know your JSE companies: COMPAGNIE FINANCIÈRE RICHEMONT (JSE: CFR)

Compagnie Financière Richemont SA (Richemont) is a Switzerland-based luxury goods company. The company’s segments include Jewellery Maisons, the newly formed Online Distributors, which includes the operations of YNAP and Watchfinder, Specialist Watchmakers and other operating segments.

The group recently reported their interim results for the six-month period ended 30 September 2018. Group sales increased by 24% at constant exchange rates and 21% at actual rates compared to the prior reporting period. Excluding the newly acquired YOOX NET-A-PORTER (YNAP) and Watchfinder, sales for the period increased by 8% at constant exchange rates. Excluding a revaluation gain, acquisition and disposal charges, profit for the period increased by 6.1%.

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