July 18, 2019 / 5:53 AM / 4 months ago

China growth helps Richemont offset sales weakness in Europe

PARIS, July 18 (Reuters) - Strong sales in Asia helped Cartier owner Richemont on Thursday post a 9% rise in comparable revenue for the quarter to June 30, offsetting a weaker performance in Europe and in spite of protests in Hong Kong which weighed on sales.

Growth in mainland China in particular drove growth, the group said.

Revenue rose 12% on a reported basis to 3.74 billion euros ($4.20 billion) in the April to June period, Richemont said, up 12% at constant currencies. The figures included its online distributors like e-commerce platform Yoox Net-A-Porter.

Without these, sales would have been up 3% at constant exchange rates. ($1 = 0.8900 euros) (Reporting by Sarah White Editing by Michelle Martin)

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