Hermes reports record breaking profit for 2016

Chloé Western

Source: ©Photoshot

Take a look at the figures

Luxury goods group, Hermes has reported a record breaking annual profit for 2016, figures increased due to the rise in sales of its handbags.

The company is of French origin and is best known for its £8,000 Birkin bags as well as its £300 silk scarves.

The firm reported a 13 per cent rise in profits to 1.1bn euros (£952m).

Sales for its leather goods and saddlery rose by 14 per cent.

Its silk and textile sales managed to pick up which were affected earlier in the year due to terror attacks in Europe and a sales slowdown in China. These sales ended the year one per cent lower.

Perfume sales managed to rise by nine per cent, watch sales saw a decline of three per cent.

Hermes said: “In the medium term, despite growing economic, geopolitical and monetary uncertainties around the world, the group confirms an ambitious target of growth rate for revenue at constant exchange rates,”

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