Richemont warns on profits after sales fall

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19-Sep-2016

Richemont, which owns top global brands such as Cartier, warned recently that weak demand and restructuring costs would slash first-half profits despite a boost in UK sales from Brexit. 
The world’s second-biggest luxury group forecast operating profit 45 per cent lower at the end of September, which concludes the first half of its 2016-17 fiscal year, compared to the same period last year. 

 

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