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In accordance with the listing requirements of SWX Swiss Exchange and the reporting requirements of the European Union Transparency Directive, which took effect in January 2007, Richemont presents its first Interim Management Report, covering the three-month period ended 30 June 2007.
The first quarter of the Group¡¯s financial year should not necessarily be taken as indicative of likely trends for the financial year as a whole.
A large part of the Group¡¯s business is transacted in the quarter to 31 December each year. The quarter to 30 June, whilst typically representing between 20 and 25 per cent of the Group¡¯s annual sales, may not be representative of trends for subsequent quarters or the year as a whole.Fashion watches!!
This report is intended to provide investors with an overview of trading performance and any significant developments in the Group, not full quarterly financial reporting.
Accordingly, no figures in respect of operating or attributable profit are provided in this report. Equally, no commentary is given here on the performance of the Group¡¯s principal associated company, British American Tobacco plc. The information contained in this report has not been audited.
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Alfred Dunhill reported sales growth of 7 per cent at constant exchange rates during the period, mainly driven by Europe and the Asia-Pacific region. Sales were only marginally ahead of last year on translation into euros.