Richemonts sales increases 2 percent in last Fiscal Year, double-digit sales growth reported for the Middle East

Sales for Geneva-headquartered luxury goods company Richemont increased 2% in its last fiscal year, ending 31 March 2009 with a 10 % growth during H1 2008-09 offset by a 5 % sales decline in H2 of the fiscal year due to the worldwide economic downturn, according to a recently released management statement. Richemonts jewellery maisons sector, which includes Cartier & Van Cleef & Arpels, experienced a 4 % increase in sales of around USD $ 3.76 billion for the year. The companys specialist watchmakers sector saw sales increase 4 % to about USD $ 1.96 billion for the year. The company reported unspecified double-digit sales growth in the Middle East.