French fashion house Hermes in 2018 increased its net profit by 16%


French fashion house Hermes International reported on the results of 2018. During the earnings period, its net profit rose by 16% to 1 billion 410 million euros, while economists had predicted it at the level of 1 billion 370 million euros. Operating profit showed the minimum growth rate for 9 years amid a weakening of the US dollar and the Chinese yuan against the euro. The figure increased by 6%, reaching 2 billion 50 million euros. Hermes maintained its leadership among luxury manufacturers in Europe in terms of profitability, which was 34.3%, exceeding the company's forecast. Revenues reached 5 billion 970 million euros, its growth was 7.5%. Hermes decided to increase the dividend for the year to 4 euro 55 cents per share against 4 euro 10 cents per share in 2017.

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