May 17, 2019 / 5:53 AM / 2 months ago

Richemont posts solid watch and jewellery sales for its full year

ZURICH, May 17 (Reuters) - Luxury goods group Richemont said sales of its watches and jewellery both grew by 10 percent in the year to the end of March, with the Americas and Asia performing well.

Swiss watch export figures showed sluggish shipments to top markets Hong Kong and the United States so far this year, a trend also visible at luxury peer Kering that recorded slowing U.S. growth for its Gucci brand in the first quarter.

Net profit at Richemont more than doubled to 2.79 billion euros ($3.12 billion) in the full year, primarily due to an extraordinary gain of 1.38 billion euros linked to its Yoox Net-A-Porter Group (YNAP) acquisition. ($1 = 0.8949 euros) (Reporting by Silke Koltrowitz)

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