Richemont Annual Results - InterviewsBy Compagnie Financiere Richemont, PRNE
Wednesday, May 18, 2011
LONDON, May 19, 2011 - Luxury goods company Compagnie Financiere Richemont unveiled annual
results today showing net profits exceeding the 1 billion euro mark together
with strong cash generation of EUR1.7bn.
In an interview with financial broadcaster www.cantos.com, Deputy
Chief Executive Richard Lepeu outlined plans to use the cash to develop the
company's manufacturing capability and open new stores for its brands to meet
the expected growth in the market. He also said the company would maintain
its sustainable growth in dividends over the years.
Commenting on the company's capital investment programme, Chief Financial
Officer Gary Saage said the company's current EUR300m investment plan which
represented 4% of sales would rise to 6 or 7 % over the next year.
For now the main challenge for the company remains keeping up with demand
for its luxury goods and the growing size of the market. This would likely to
see the company double in size over the next three years.
The interview and transcript are available now on
Cantos.com, the online financial broadcaster, features in-depth
interviews, documentaries and webcasts with senior company executives. If you
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Tags: Compagnie Financiere Richemont, London, May 19, United Kingdom