Richemont, the Swiss luxury goods group, announces its audited results for the year ended 31 March 2006. The group’s full year results are presented for the first time in compliance with International Financial Reporting Standards (‘IFRS’).

Specialist Watchmakers
The group’s specialist watchmakers reported a 22 per cent increase in sales and an increase in the operating margin from 16.7 per cent in the comparative year to 21.4 per cent. The rate of growth reflects developments across all regions, the highest rate of growth being seen in the Americas region.

The good growth attests to the success of new products launched at the Geneva Salon International de la Haute Horlogerie in April 2005. Piaget’s Possession watch collection uses motifs from the Maison’s renowned jewellery line of the same name, whilst Jaeger-LeCoultre’s latest Minute Repeater and Compressor Extreme World Chronograph demonstrated the Maison’s technical expertise. IWC’s new models to mark the 50th anniversary of the legendary Ingenieur watch were a great success. Panerai enjoyed continued success in the high–end sport segment with both established lines and new models. Sales through Panerai’s new Beverly Hills boutique were particularly good. Double-digit sales growth at Baume & Mercier also reflects the success of new models, including the Diamant for women, and restyled models such as the Riviera, first launched in 1973. A. Lange & Söhne delighted watch connoisseurs with its Lange 1 TimeZone and Tourbograph Pour le Mérite models, as did Vacheron Constantin, which marked its 250th anniversary of uninterrupted production with unique items including the Tour de L’Ile model: the most complicated wristwatch produced in a limited series.
The complete trading statement is available on:
www.richemont.com

Source. Compagnie Financière Richemont S.A.

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