Swiss luxury goods group Richemont has reported improved unaudited sales for the year ended March 31. Sales reached €4,308 million, an increase of 17% at current exchange rates compared with the prior year. At constant exchange rates, sales increased by 16%.

The sales trends seen during the first six months of the year and in the pre-Christmas period continued into the fourth quarter of the financial year.

Particularly strong growth was seen in the Group’s specialist watchmaking division, which reported growth of 22%.

Overall the group overall benefited from good consumer demand stemming from the generally favourable economic environment seen in its principal markets. In addition, exchange rates of key currencies, notably the dollar and yen, were relatively stable against the euro for a large part of the year.

In its leather and accessories Maisons, overall growth in sales for Alfred Dunhill reflected double-digit growth in the Asia-Pacific region, offset to some extent by a more challenging market for the company’s products in Japan. Lancel saw a recovery in its European market, with a double-digit rate of increase in sales.