Luxury group Richemont delivered a resilient full-year performance, with group sales rising 11% at constant exchange rates (5% reported) to 22.4 billion euros ($26.12 billion). The company beat fourth-quarter estimates with a 13% constant-currency revenue jump. Full-year net profit surged 27% to 3.484 billion euros ($4.06 billion), aided by the divestment of Yoox Net-A-Porter, while operating profit reached 4.492 billion euros ($5.24 billion) — a 23% constant-currency increase yielding a 20% operating margin. Growth was anchored by the jewelry division (Cartier, Van Cleef & Arpels), where sales rose 14% to 16.5 billion euros ($19.24 billion). Specialist watchmakers stabilized outside of China at 3.1 billion euros ($3.61 billion). Double-digit constant-currency gains in the Americas and Middle East led growth.

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