ZURICH - Swiss luxury goods Richemont group, said Thursday that its net profit for the year rose 79% to € 1.1 billion ($1.6 billion), supported by accounting for 102 million euros draw its acquisition of net-a-porter site.
Overall sales increased 33%, with a main growth of the Asia-Pacific, the group said in a statement specifying the gains for the year ending March 31, 2011.
Asia-Pacific, revenues increased by 48 per cent to 2.57 billion euros, fast catching up with Europe, the region that traditionally the largest post revenue in absolute terms.
In Europe, sales reached 2.59 billion euros, up 23% by a year ago.
The group released a positive attitude for the rest of 2011, saying that the sales in April were 32 per cent from the same month last year.
"In an environment that is currently marked by geopolitical unrest and instability of the currency, we hope that this positive trend will be confirmed in the coming months," said Richemont, which owns the brands including Cartier, Jaeger-LeCoultre and Montblanc.
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