Richemont FY16 Net Climbs; Sees No Improvement In Trading Near Term

Swiss luxury goods group Compagnie Financiere Richemont AG reported Friday higher profit in its fiscal 2016, benefited by one time gain, the absence of prior year's losses, as well as sales growth. Chairman Johann Rupert said that Richemont is doubtful that any meaningful improvement in the trading environment is to be expected in the near term. In Zurich, Richemont shares were losing 5.52 percent

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