Her­mes starts 2017 on solid foot­ing

New Straits Times - - Business -

PARIS: French lux­ury goods group Her­mes said yes­ter­day it was start­ing this year on a solid foot­ing af­ter de­liv­er­ing record prof­its last year, pro­vid­ing fur­ther ev­i­dence of a broader re­cov­ery in the lux­ury goods in­dus­try. Her­mes, known for its US$10,000 (RM44,270) Birkin bags, said net prof­its had risen by 13 per cent rise to a record €1.1 bil­lion (RM3.27 bil­lion). Its op­er­at­ing margin hit an his­toric high of 32.6 per cent of sales against 31.8 per cent in 2015, while it also in­creased its div­i­dend by 12 per cent.

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