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Richemont chairman says company still has to be cautious with its cash

ZURICH, Aug 26 (Reuters) - Luxury goods group Richemont still has to be cautious and keep its cash in light of the ongoing COVID-19 pandemic, its chairman said during a webcast on Wednesday.

“Even at this stage at the end of August, we’re still not clear as to when we’ll see a therapeutic or a vaccine so we still err on the side of caution in terms of cash,” Johann Rupert said in a call ahead of the Cartier maker’s shareholder meeting in two weeks. (Reporting by Silke Koltrowitz; editing by Thomas Seythal)

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