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Hermès H1 profit climbs 12.7% YOY

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Hermès H1 profit climbs 12.7% YOY

Hermès International Société en commandite par actions said its first-half normalized net income amounted to €4.93 per share, compared with the S&P Capital IQ consensus estimate of €5.24 per share.

EPS rose 12.8% year over year from €4.37.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €517.0 million, an increase of 12.7% from €458.9 million in the year-earlier period.

Total revenue increased 6.1% year over year to €2.44 billion from €2.30 billion, and total operating expenses climbed on an annual basis to €1.60 billion from €1.55 billion.

Reported net income grew 13.2% year over year to €545.7 million, or €5.20 per share, from €482.3 million, or €4.59 per share.