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Richemont First-Half Profit Climbs 22% on Watch Sales (Update7) 

Cie. Financiere Richemont AG, the world's second-biggest luxury-goods company, said fiscal first- half profit increased 22 percent on sales of Panerai, Mont Blanc and Jaeger-LeCoultre watches that cost as much as $25,000.

Net income climbed to 645 million euros ($823 million) in the six months through September from 529 million euros a year earlier, the Geneva-based company said today. That beat the 615 million-euro median estimate in a Bloomberg survey of seven analysts. The stock rose the most in more than four months.

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