Geneva - The Swiss group Richemont, which markets watches and other luxury items, reported on Monday a modest third quarter sales gain thanks to a strong performance in Asia.
Richemont said sales rose 2% from October to December to reach €1.6bn ($2.3bn), beating a forecast of €1.5bn from analysts surveyed by the financial agency AWP.
Sales in December alone were up 12%, according to Richemont, whose product range includes such names as Cartier, Vacheron-Constantin, Piaget, Montblanc and Baume & Mercier.
Richemont recorded a quarterly sales gain of 25% in Asia, notably China and Hong Kong.
Sales were down 2% in the Americas, 12% in Japan and 4% in Europe.
Despite the third quarter pick-up, sales in the first nine months of the group's 2009-2010 fiscal year were down 9% at €4bn.
- AFP