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Home Richemont issues profits warning

Richemont issues profits warning

22-Mar-2003
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Luxury goods supplier Richemont has surprised investors by issuing a profits warning

In a gloomy statement the group, which numbers such names as Cartier, Piaget, Baume & Mercier and Dunhill among its brands, warned that operating profit for the year ending March 31 2003 could be down by as much as 40%. Operating profit for the previous year was ?482m ($518.28).
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