ADVERTISEMENT
Luxury goods maker bags record sales in 2016
The leather goods and saddlery division reported a 14-percent increase in sales to 2.6 billion euros.
A Hermes store in Shanghai.
Hermes' revenues rose by 7.5 percent to 5.2 billion euros ($6.0 billion) last year, the first time the group has passed the five-billion-euro mark.
"Once again, we outperformed the sector, we broke through the five-billion mark and growth was healthy, because it was essentially organic growth," boasted chief executive Axel Dumas in a conference call.
"All of our models were successful, we achieved higher growth than usual," Dumas said.
ADVERTISEMENT
"Sales grew in all regions around the world, particularly in our own-brand stores," he continued.
Japan performed "exceptionally" well, despite the rise in the value of the yen.
Sales also continued to increase in Asia and America, Dumas said.
France also performed well, "even if it was still impacted by weaker tourist numbers" in the wake of the series of jihadist attacks.
Hermes is scheduled to publish full details of its 2016 earnings on March 22, but it said that underlying profitability "should be slightly above 2015."
ADVERTISEMENT
Looking ahead to the current year, Hermes did not provide any concrete forecast, but confirmed its "ambitious" sales growth target.
"I'm fairly optimistic because Hermes' fundamentals are good," CEO Dumas said.
"In a period of high uncertainty, it's difficult not to be cautious. But I think we'll do better than the sector," he said.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
NDC poses 35 critical questions to Electoral Commission over stolen biometric devices
Court jails 22-year-old apprentice for assaulting teacher over false missing penis claim
PURC fines ECG board members GH¢5.8m over failure to release dumsor timetable
NPP's Mike Ocquaye washes pants, clothes for Dome Kwabenya constituents to secure vote
Ministry of Transport asks police to arrest drivers who charge illegal lorry fares
High Court orders arrest of Ghana Police CID Director General and Legal Unit Head
5 EC officials interdicted over missing BVDs
41-year-old man, Kwame Chelsea arrested for having sex with pregnant goat