Richemont: FY12 results in line with pre-announcement, strong performance in April!

BUY, Fair Value CHF82 (+2%)

News published on May Thursday 16, 2013
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This morning Richemont has released its FY12 results (FY ended 31 March 2013), which are perfectly in line with the pre-announced results released on April 23. FY Sales climbed 14% as reported and 9% at CER to EUR10.2bn.FY EBIT grew 18% and came in at EUR2.42bn. We must highlight the better-than-expected sales growth during April (+12% CER vs. consensus of 7-8%e) although the comps were the toughest of the year (April 2012: +21%). FY12 results presentation scheduled today at 9am CET.

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