PARIS (awp international) - Shares of Hermès International S.A. were gaining around 3 percent in the early morning trading in Paris on Thursday after the French luxury design house and manufacturer reported higher third-quarter sales, and confirmed its medium-term growth outlook.
For the third quarter, sales grew 10.1 percent to 3.70 billion euros from last year's 3.37 billion euros. Sales increased 11.3 percent at constant exchange rates.
All regions recorded growth, despite a particularly high comparison basis in Europe and Asia-Pacific.
Total Europe sales were 949 million euros, up 16.5 percent on a reported basis and up 17.4 percent at constant rates.
Total sales in Asia grew 3.5 percent from last year to 1.94 billion euros, and Asia-Pacific sales excluding Japan edged up 0.6 percent to 1.58 billion euros.
In Japan, sales climbed 18.5 percent, and the growth was 11 percent in Americas.
In the first nine months of fiscal 2024, consolidated revenue amounted to 11.2 billion euros, up 11 percent at current exchange rates and 14 percent at constant exchange rates.
Looking ahead, the company said, 'In the medium-term, despite the economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious goal for revenue growth at constant exchange rates.'
In Paris, Hermès shares were trading at 2,121.00 euros, up 2.91 percent.
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