Richemont Says Full-Year Profit Rose 30% on Favorable Currencies

ZURICH, Switzerland — Cie. Financiere Richemont SA, the maker of Cartier jewelry and IWC watches, said full-year net income rose about 30 percent, boosted by favorable exchange rates.

Operating profit rose about 18 percent in the year through March as sales rose 14 percent, the Geneva-based company said today in a statement. Revenue rose 9 percent excluding currency shifts.

The company said Swiss stock exchange rules required the announcement and the company will report full results on May 16.

By: Janice Kew; Editors: Thomas Mulier, Tom Lavell