LONDON, May 19, 2011 /PRNewswire/ -- Luxury goods company Compagnie Financiere Richemont unveiled annual results today showing net profits exceeding the 1 billion euro mark together with strong cash generation of EUR1.7bn.
In an interview with financial broadcaster http://www.cantos.com, Deputy Chief Executive Richard Lepeu outlined plans to use the cash to develop the company's manufacturing capability and open new stores for its brands to meet the expected growth in the market. He also said the company would maintain its sustainable growth in dividends over the years.
Commenting on the company's capital investment programme, Chief Financial Officer Gary Saage said the company's current EUR300m investment plan which represented 4% of sales would rise to 6 or 7 % over the next year.
For now the main challenge for the company remains keeping up with demand for its luxury goods and the growing size of the market. This would likely to see the company double in size over the next three years.
The interview and transcript are available now on http://www.cantos.com/company/Compagnie%20Financi%C3%A8re%20Richemont
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SOURCE Compagnie Financiere Richemont