Luxury high-end Richemont remains strong

  ZURICH-Compagnie Financière Richemont SA 8.29% CFR.VX said on Tuesday net profit by 30% in the

year ended 31 March to increase coupled with an increase in turnover, suggests that the market

for luxury goods remains respected solid.

In a surprise announcement, said the owner of Cartier and Jaeger-LeCoultre brand sales

increased 14%, broadly in line with analysts' expectations after an exceptionally strong

revenue growth of 29% a year earlier.

The increase in net income, which is partly due to favorable exchange rates means Richemont is

on course for an annual income of more than € 2000000000 (2610000000 $), followed by € 1

forecasts 92 billion.

Richemont, the second-largest luxury group in the world, has benefited from a stronger dollar

and the yen against the euro. Hard currency into higher income for Richemont, which translated

reported in euros.

The direction of the surprise in Geneva-based Richemont, coupled with data earlier in the day

that the Swiss watch exports returned to growth in March, note that some parts of the luxury

market remain strong with uneven economic growth in the world.

Analysts say that "hard luxury" goods watches and jewelery resistant than other segments of

the luxury market as consumers are more picky about what they will spend their money.

"When markets slow, the consumer brands they know to move more," said Luca Solca, an analyst

at Exane BNP Paribas.

Performance Richemont contrast to the reports of the companies that rely on other luxury

categories such as fashion and leather products.

For example, the French luxury goods company Hermes International SCA said RMS.FR +1.77%,

maker of bags Kelly Monday quarter sales rose at the slowest pace since 2009.

Earlier this month, LVMH Moet Hennessy Louis Vuitton said MC.FR +2.67% larger luxury companies

in the world by revenue, had slowed its growth to 6% in the first quarter, up from 25% a year

earlier.

Richemont news came as the Swiss Customs Office said watch exports rose by 0.6% in March after

a 2.5% decline in February. Strong demand from the U.S. and the Middle East helped to boost

exports.

Commercial Zurich, Richemont stock jumped 8.3% to 73.80 Swiss francs ($ 79).

The shares are up 37% over the past 12 months.

The Declaration of Richemont sets a positive tone before Baselworld, the biggest watch and

jewelry show in the world in Basel, Switzerland opens on Thursday.

The company expects full-year profit on 16 Report in May