_large.jpg)
18 February 2022, Mumbai:
Hermès International powered ahead in the fourth quarter, with revenues climbing 11 percent versus a year ago, and 28.4 percent ahead of 2019, to 2.38 billion euros. For the full year, the French maker of status handbags and silk scarves saw revenues approach 9 billion euros, jumping 41.8 percent compared to 2021 and 33.4 percent compared to 2019.
The numbers came in slightly under HSBC forecasts.
Net profit leaped 76.5 percent to 2.45 billion euros, while recurring operated income soared 78.2 percent to 3.53 billion euros, with the company touting “remarkable sell-through” of its collections and touting a recurring operating margin of 39 percent, up 8 points versus 2020 and 5 points compared to 2019.
ALSO READ:
Alex Dumas, executive chairman, christened 2021 as an “exceptional year,” crediting “abundant creativity, unique know-how and the quality of our materials” for driving the growth of its 16 departments, or métiers.
The company cited “dynamic growth in Asia and the Americas, where revenues vaulted 54.1 percent and 24.4 percent respectively in 2021 versus 2019.
Hermès highlighted “the sustained performance in Greater China, Australia and Singapore” for the strong Asia tallies, which exclude Japan.
Follow us on Linkedin & Youtube.
Subscribe to our daily e-newsletter.
*Figures mentioned in the above article have been sourced from finance.yahoo.com article.
