Hermes Reports 50% Surge In First-Half Net Income

Hermes International SA HESAY reported a 50% rise in its first-half 2011 consolidated net income. Hermes' net income for the period surged to €290.9 million ($420.2 million), from €194.6 million, in the year-earlier period. Its sales climbed 22% at current exchange rates to €1.31 billion and surged 21% at constant exchange rates. Hermes' shares gained 1.19% to close at $38.20 yesterday.