Richemont reported 5 months sales at it’s annual general meeting in Geneva, Switzerland. Sales increased in all regions that the company operates in, lead by double digit sales growth in most of the Asian markets, including China and Hong Kong. A weaker growth rate of 3% in European markets reflects the impact of the strong Euro on the tourists spending habits. Overall the company increased sales by 12% in constant currency and shows higher demand for luxury goods. Richemont’s share price increased 32.58% year-to-date and was one of the top performances of the heavy weights on the JSE Top 40.
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Analyst and Securities Trader
Daniel is a full-time analyst and securities trader, and is responsible for equities research across industries. Although he grew up in a small town in the Klein Karoo, Daniel has always been interested in both locally and internationally traded companies. Daniel has been actively investing and trading on the JSE and other global exchanges since starting his Bcom Investments Degree at the University of Stellenbosch, which he completed in 2014 . During his studies, Daniel worked as an intern at Kruger International in Johannesburg in 2015, gaining valuable experience from Hein and Mia Kruger. He is currently a CFA candidate.