Profits up  luxury brands company Richemont
Richemont owns the Cartier, Piaget, Jaeger-LeCoultre and Montblanc brands.

Swiss luxury goods manufacturer Richemont says first-half profit will be between 20 per cent and 40 per cent higher than in 2011.

The group, which owns the Cartier, Piaget, Jaeger-LeCoultre and Montblanc brands, reported sales up 24 per cent in the four-month period ending July.

On this basis, the company's operating profit for the six months to September 2012 is likely to show an increase of between 20 per cent and 40 per cent compared with the first six months of the last financial year, Richemont said in a statement.

Forecasts for net profit are within the same parameters over the same period, the company said, adding that "uncertain factors" including the level of trading in August and September and exchange rate movements "may therefore lead to actual levels of profit growth for the six month period below or above the ranges indicated".

The West Australian

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