Hermes second-quarter sales jump 9%

(Sharecast News) - French luxury brand Hermes posted a jump in second-quarter revenues on Wednesday. Revenue rose 9% at constant currency to €3.9bn, an improvement on the first quarter, with growth in all regions. Analysts were expecting an increase of 10%.

In the first half, recurring operating income ticked up 6% from the same period a year earlier to €3.3bn, while consolidated revenue was up 8% at €8bn.

Net profit group declined to €2.2bn in the first half from €2.4bn in the previous year.

Executive chairman Axel Dumas said: "The solid first-half results across all regions reflect the strength of the Hermès model. I would like to thank all our customers for their trust and all our employees for their commitment. We will continue to invest and recruit to ensure the group's sustained success."

At 1120 BST, the shares were down 3.2% at €2,303.