Sales of the Writing Instrument Maisons increased by 11 per cent, an excellent achievement considering the high comparative figures from 2006 linked to Montblanc's centenary year.
In the Leather and Accessories businesses, Alfred Dunhill saw growth in sales and lower operating losses during the period under review. Lancel reported lower sales, in connection with the planned repositioning of its product ranges. Both Maisons are moving in the right direction, in line with their respective business plans.
Sales for the month of October continued the pattern established in the first six months of the year, showing an increase of 11 per cent at actual exchange rates. At constant exchange rates, underlying growth was 18 per cent for the month.
Sales growth in Europe and the Asia-Pacific region was above the level established during the first six months of the year, whereas constant currency sales growth in the Americas and Japan was lower at 11 per cent and 4 per cent, respectively. The results of any one month are not necessarily a reliable indicator of broader trends but October's figures are nonetheless encouraging ahead of the important pre-Christmas trading season.
Overall, the Group achieved a high level of profitability over the first half of the year. However, recent, marked movements in exchange rates linked to the current uncertainties in financial markets will make the second half of the year more testing. Additionally, the Group performed particularly well over the Christmas season last year, setting tough comparative figures.
Given the appeal of our products, the strength of the Maisons and the financial position of the Group as a whole, I nonetheless look forward with a degree of confidence and, in the absence of any significant deterioration in debt and equity markets, expect that the Group's results for the full financial year will be comfortably ahead of last year.
20240620103915.png)
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
