January 17, 2020 / 6:19 AM / a month ago

Richemont sales growth slows in quarter as Hong Kong weighs

ZURICH, Jan 17 (Reuters) - Sales growth at luxury goods group Richemont slowed as political unrest in Hong Kong weighed on turnover in the three months to Dec. 31, the Swiss group said on Friday.

Sales at constant currencies increased 4% in the third quarter of Richemont’s fiscal year and 6% at actual exchange rates to 4.16 billion euros ($4.63 billion), after rising 6% in the first half, world’s second-biggest luxury goods group said.

It cited strong growth in Europe and the Americas and sales in the Asia Pacific region up at a low-single digit rate. “Strong double-digit increases in China and Korea more than (offset) a marked contraction in Hong Kong SAR, China – all at actual exchange rates,” it said.

$1 = 0.8981 euros Reporting by Michael Shields Editing by Michelle Martin

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