Compagnie Financière Richemont SA said its normalized net income for the fiscal first half ended Sept. 30 amounted to €1.21 per share, compared with the S&P Capital IQ consensus estimate of €1.99 per share.
EPS decreased 24.8% year over year from €1.61.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €684.1 million, a decrease of 24.1% from €901.1 million in the year-earlier period.
Total revenue grew on an annual basis to €5.43 billion from €5.32 billion, and total operating expenses climbed from the prior-year period to €4.12 billion from €3.95 billion.
Reported net income fell 23.6% on an annual basis to €907.8 million, or €1.60 per share, from €1.19 billion, or €2.12 per share.
