Richemont records over 30% sales growth in three months to December

JSE-listed Richemont has exceeded pre-pandemic sales levels across all its operating regions for the three months ended December 31, 2021, boosted by a strong performance in its American and European businesses. It posted a 32% jump in sales over the third quarter to the end of December 2020 – at constant exchange rates.

The sector saw a consumer spend slowdown as more people needed to preserve their money in preparation for the unknown. In anticipation of this, Richemont took the decision to raise its liquidity levels to weather the Covid-19 storm by placing bonds worth €2.0 billion at the time on the market. Read:Jewellery helps Richemont shine, boosting dividend Its share price surged almost 7% on the JSE to R242.29 on Wednesday morning. jQuery.on { event.preventDefault; jQuery.animate).offset.

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