Hermes 1st Half Net Profit Up 11%

By Max BernhardFeaturesDow Jones Newswires

Hermes International SCA (RMS.FR) said Thursday that its net profit rose 11% in the first half, boosted by global revenue growth.

The French luxury company said its net profit rose to 605.2 million euros ($722.7 million) from EUR545.4 million in the year-earlier period. Revenue was EUR2.71 billion up 11% from EUR2.44 billion.

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Continued development in its ready-to-wear and accessories business, as well as silk and textiles units drove results, the company said. Revenue grew in all geographical areas, as sales in Asia, excluding Japan, grew 14%, while revenue in the U.S. and Europe rose 9% and 7% respectively, it added.

The company confirmed its goal for revenue growth.

Write to Max Bernhard at; @mxbernhard

(END) Dow Jones Newswires

September 14, 2017 03:25 ET (07:25 GMT)