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Richemont profit misses consensus by 35.8% in fiscal year

4290528 said its normalized net income for the fiscal full year ended March 31 was €1.62 per share, compared with the S&P Capital IQ consensus estimate of €2.53 per share.

EPS declined 41.5% year over year from €2.77.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €919.4 million, a decrease of 41.2% from €1.56 billion in the year-earlier period.

The normalized profit margin dropped to 8.8% from 15.6% in the year-earlier period.

Total revenue rose on an annual basis to €10.41 billion from €10.02 billion, and total operating expenses rose 5.0% on an annual basis to €7.97 billion from €7.60 billion.

eported net income declined 35.9% from the prior-year period to €1.34 billion, or €2.36 per share, from €2.08 billion, or €3.70 per share.Compagnie Financière Richemont SA

4290528 said its normalized net income for the fiscal full year ended March 31 was €1.62 per share, compared with the S&P Capital IQ consensus estimate of €2.53 per share.