Richemont Posts Upbeat H1 Profit

Compagnie Financiere Richemont SA CFRUY reported an upbeat profit in the six months to September. Richemont's net profit for the period surged to EUR1.08 billion, from EUR709 million, in the year-ago period. Its revenue rose to EUR5.11 billion from EUR4.21 billion. However, analysts were expecting a net profit of EUR1.05 million on revenue of EUR5.13 billion. Richemont shares closed at $6.70 yesterday.