Excellent performance in sales and results in the 1st half - Operating income from recurring activities rises 13% - The operating margin reaches an all-time high of 34.3% of sale.
The HERMES Group’s consolidated revenues amounted to €2,713 million in the first half of 2017, up +11% at current exchange rates and +10% at constant exchange rates. Operating income, up 13 %, amounted to €931 million (34.3% of sales) and net profit reached €605 million, up 11%.
During the first six months of 2017, revenue rose in all the geographical areas worldwide:
. Asia excluding Japan (+14%) pursued its great progress,driven particularly by continental China, which gained from positive momentum;
. Japan (+3%) achieved robust growth, despite the
strengthening of the yen;
. America (+9%) developed in a contrasting environment, and with a particularly high comparison basis in the second quarter;
. Europe (+7%) performed very well, and particularly
benefited from store openings and extensions in Rome
in October, and London and Munich in March. France in particular posted a good increase in Group stores.
In the medium-term, despite growing economic, geopolitical and monetary uncertainties around the world, the Group confirms an ambitious goal for revenue growth at constant exchange rates. The performance of the results at the end of June, benefiting from the non-recurring impact of foreign exchange hedging from the year 2016,can not be extrapolated over the full year 2017.