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· Richemont
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(This updates an item published around 0739 GMT, adding analyst comments and background.)
Jump to full article: The Wall Street Journal Interactive Edition, 2006-06-08
Author: Martin Gelnar, Dow Jones Newswires
Intro: Swiss luxury goods maker Compagnie Financiere Richemont S.A. (CFR.VX) Thursday said full-year net profit fell 10% due to extraordinary effects while operating profit was a third higher due to soaring demand for its jewelry and watches.
. . .
The profit contribution from British American Tobacco PLC (BTI), in which Richemont has a minority stake, fell by more than a third to EUR486 million from EUR798 million.
The year-ago figure was boosted by extraordinary gains resulting from a merger of BAT's U.S. busines with that of R. J. Reynolds (RJR).
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