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Paris - French luxury goods group Hermes reported on Tuesday a near 23% surge in first half sales and doubled its revenue forecast for the year, in an indication the market for high-end products is vibrant.
Sales came to €1.0747bn in the January-June period, up 22.8% from the figure 12 months earlier, the company said, adding that it now expected sales to grow between 10% and 12% for the full year.
The company had previously predicted a sales increase of 5.0%.
The sales spurt was especially sharp in the second quarter, 27%, after a gain of 18.5% in the first.
Analysts polled by Dow Jones Newswires had foreseen increases of 19% in the first and second quarters.
The company said it had benefited in the first half from a weaker euro against the dollar. At constant exchange rates sales rose 20%.
Asia continued to be the sales driver, with first half revenue - apart from Japan - growing by 45%.
Sales rose 26% in the Americas and 17% in France.
Hermes shares were showing a gain of 2.7% to €117.8 in mid-morning trading in Paris, where the overall market was weaker.
- AFP
