Hermès reports stable full year 2003 results
French luxury goods house, Hermès, has today posted stable results for the full year 2003. The group’s net profits rose 0.6% to €216.8 million, ahead of analysts’ expectations of €210 million. Operating profits were up 3.9% to €332.8 million.
At constant exchange rates, the Paris-based company’s sales increased 7.7% however when adjusted for the negative currency impact, were down 1% to €1.3 billion. Growth in the
Over the year, the company expanded its network with the addition of 11 new branches, including locations in
In 2004, the company is planning to open two new leather goods manufacturing units in
