Richemont's profit fell 35.5 percent

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31-May-2015

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Richemont's revenue increased 3.9% year on year to $11.5 billion in the year that ended on March 31. Total sales rose 1% while revenue from the retail division rose 4.1% to $6 billion and the wholesale revenue increased 3.6% to $5.5 billion. Profit fell 35.5% to $1.5 billion, which the company attributed partly to ongoing foreign exchange hedging activities. Revenue from the company's specialist watchmakers increased 4.6% to $3.5 billion but operating margin fell to 23.4% compared with 26.1%.

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