PARIS: In 2016, Hermès said, in a difficult context, the company’s consolidated revenue passed the 5 billion euros (5.3 billion dollars) threshold, amounting to 5, 202 million euros (5,538 million dollars), up 7.5 percent at current exchange rates, and 7.4 percent at constant exchange rates. The company added that sales growth was sustained in the fourth quarter with 8 percent rise at current exchange rates and 7 percent at constant exchange rates.
Hermès said solid rise in revenue recorded in 2016 in group stores of 8 percent was driven by growth in all geographies. Revenues in Japan increased 9 percent, while Asia excluding Japan saw sales growth of 7 percent, particularly with extensions of the Liat Towers and Takashimaya stores in Singapore and store openings in Macao, at Hong Kong Airport and in Chongqing in China.
Sales in America rose 7 percent. The company’s stores in Hawaii and Philadelphia were renovated and extended at the end of the year. Europe posted 8 percent sales growth. Revenues in France increased 5 percent.
For the full year 2016, the company expects operating profitability should be slightly higher than in 2015. In the medium term, despite growing economic, geopolitical and monetary uncertainties around the world, the Group confirms an ambitious goal for revenue growth at constant exchange rates.
On February7, 2017, management decided to pay an interim dividend of 1.5 euros (1.60 dollars) per share.
