Luxury goods group Hermes delivers record 2016 profits

Paris

FRENCH luxury goods group Hermes said on Wednesday it was starting 2017 on a solid footing after delivering record 2016 profits, providing further evidence of a broader recovery in the luxury goods industry.

Chief executive Axel Dumas nevertheless struck a cautious note for the year given underlying global political and economic uncertainties. "We did better than we expected in 2016 and we are entering 2017 on a solid base, but remain cautious in view of an uncertain environment," Mr Dumas told a conference call.