Hermes FY net up 8.7 pct, helped by faster Q4 sales, Leica disposal UPDATE |
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Thu, 22 Mar 2007 08:30
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(Updates with details on profit, sales)PARIS (AFX) - Luxury goods group Hermes International reported a full-year profit of 268.4 mln eur, up 8.7 pct on the 2005 figure of 247 mln eur, supported by faster sales growth in the fourth quarter and a 14.1 mln eur gain from the sale of a stake in Leica Camera AG.The consensus of analyst estimates compiled by Thomson Firstcall had put Hermes' net profit slightly higher at 271 mln eur.The company said its net margin rose to 17.7 pct from 17.3 pct a year earlier thanks to the higher net profit.Operating profit reached 415.2 mln eur, up 8.3 pct on the previous year, giving an operating margin of 27.4 pct.Hermes highlighted the 'the impetus of a strong fourth quarter', which helped to lift sales 6.1 pct to the previously reported figure of 1.514 bln eur.The company said it invested 134 mln eur in its activities last year, including the opening or renovation of 26 stores.Hermes said it will propose a full-year dividend of 0.95 eur per share, a 14 pct increase on the previous year.For 2007, the group said it will continue to invest in its retail network and production capacity, without giving any specific guidance.paris@afxnews.comgt/ms1COPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Hermes FY net 268 mln eur, up 8.7 pct, helped by faster Q4 sales, Leica disposal 