PARIS: Hermes International reported record first-half profitability as the maker of US$10,000-plus Birkin handbags benefited from brisk sales in China, a trend that shows no sign of easing off even as stock prices slump in the Asian nation.
Recurring operating income amounted to 34.5% of sales, up 0.2 point, the Paris-based company said in a statement yesterday. Analysts predicted 34.4%, based on the median estimate compiled by Bloomberg News.
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