Swiss Luxury Giants Improve Momentum, Profits No Guarantee

　　瑞士奢侈品巨头Richemont厉峰近日表示，尽管近期有迹象显示公司有改善的势头，公司仍然对前景持谨慎态度，因为公司公布的数据显示，全年纯利润超过预期下降44%。

However, in April, the company's sales increased by 24%, which undoubtedly made the whole company see the hope again.

Richemont group is the world's second largest luxury company after LVMH.

The company posted a net profit of 599 million euros as of March 31st, compared with 1 billion 80 million euros in the previous year.

The reason for the decline is attributed to the reduction of distribution networks, especially in the US market.

The company's operating profit margin declined from 17.9% to 16%.

The company's sales fell 4.5%, from 5 billion 420 million euros to 5 billion 180 million euros.

Analysts had expected net profit of 716 million euros and sales of 5 billion 110 million euros.

Although the company's sales have revived recently, vice president Richard Lepeu said: "we will remain very cautious.

Because there are still many fluctuations.

Of course, the western market is hard to keep up, but the Asian market is a bright spot.

Richard Lepeu also said that Richemont group still saw some acquisition opportunities. Now the company's cash flow reaches 1 billion 900 million euros, which is very strong.

But he did not elaborate on this.