Hermes beats forecasts with 14 percent increase in first half 2013 operating profit

French luxury house of Hermes reports better than expected results for the first six months of 2013, with profit rising to 584.1 million euros ($772.45 million), giving the group a margin of 33.1 percent. Last month, Hermes reported a forecast-beating 16 percent rise in second-quarter sales at constant exchange rates, marking an improvement from a 12.8 percent rise in the first quarter. Hermes reiterated the sales forecast on Friday, adding that net cash stood at 596 million euros at the end of June. REUTERS

Hermes, Fall Winter 2013-14 ad campaign