Sunday October 25, 2020

Hermes bagging profits despite eurozone troubles

Despite the economic woes in the eurozone, French luxury product house Hermes has bagged better than expected profits for 2011.

24th March, 2012
2
Hermes's sales for 2011 rose by 18.3 per cent. Photo: Bloomberg

Despite the economic woes in the eurozone, French luxury product house Hermes has bagged better than expected profits for 2011, prompting the company to offer shareholders a dividend of €2 per share on earnings for the year, plus a one-off sum of €5 a share.

Sales for 2011 rose by 18.3 per cent to €2.84 billion, buoyed by tourist spending in Europe and increased demand in Asia and the Americas, pushing net income up by just...

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