GJ Town India

  Richemont operating profit down by 17% in 1H FY25    Recently, Richemont reported for the 1H (six-month period ended 30 September 2024) and the report say,  Richemont demonstrates sustained resilience FY25. According to the Interim Results & Group highlights said, Sales at € 10.1 billion and operating profit from continuing operations at € 2.2 billion in a challenging macroeconomic and geopolitical context, supported by ongoing investment into distribution and manufacturing assets.    In a Strategic developments Richemont highlight, 1: Completion of the acquisition of distinctive Italian jewellery Maison Vhernier, 2: Signature of an agreement by which Mytheresa will acquire YNAP in exchange for a 33% equity stake in Mytheresa, subject to customary closing conditions, 3: Strengthened governance with the appointment of new Group CEO; new leadership in place at Cartier and Van Cleef & Arpels. At the Financial highlights Richemont reported, 1: Resilient H1 top-line perf

  Consolidated an income jump by 12% in Q1FY25   Titan (Consolidated) recorded an income of Rs12,386 crores growing by 12% in Q1FY25 compared to Q1FY24. The PBT was lower by 3% at Rs973 Cr compared to Q1FY24 due to financial costs of Caratlane acquisition (acquisition costs were not part of the base quarter).    Business Performance (Standalone) for Jewellery reported, total Income for the quarter grew 9% over Q1FY24 to Rs 9,879 crores. The India business grew 8% in the same period. EBIT at Rs 1,103 crores came at a margin of 11.2% for the quarter. The first six weeks of the quarter that included Akshaya Tritiya saw 20% retail growth.    Q1 saw multiple forces coming together that impacted topline. A steep rally in gold rates (20% increase over Q1FY24), election led restrictions in many markets, very few wedding dates and an unprecedented heat wave across the country weighed on overall consumer demand. Tanishq launched it enchanted trails diamond collection at the Paris Hau

Pandora distributed DKK 2.7bn to shareholders in Q1   According to the Q1 report from Pandora that highlighted, 1: Strong 21% organic growth in Q1 2022 - equal to 18% vs Q1 2019, 2: Collabs were very strong supported by a successful Marvel launch in February, 3: Pandora ME up 132% vs Q1 2021 and reached 3% share of business.   Broad based organic growth across key markets vs 2019 - China continue to be a headwind, while US grew 7% (62% vs Q1 2019) – strategy on plan with acquisition of 32 franchise stores mainly located on the West coast of US as wells as entering new partnership with Macy’s.   In line with normal seasonality, cash flow was negative in Q1 2022. Cash flow in Q1 was negatively impacted by a deliberate increase in inventories. Leverage ended at 0.9x NIBD to EBITDA during Q1 2022, DKK 2.7 billion was distributed to shareholders. Pandora a strong performance across key European markets, all delivering double digit positive organic growth vs 2019, Online also continue