Net profit of the world-famous jewelry company Tiffany & Co. by the end of February-October this year grew by 20% and amounted to approximately $ 285 million, earnings per share for the quarter exceeded forecasts of analysts, it follows from the company's press release.
Net profit in terms of one ordinary share for the reporting period was $ 2.23 compared to $ 1.87 per share for the nine months of 2012-2013 fiscal year, PRIME reports.
Sales of Tiffany for the period increased by 7% and amounted to $ 2.7 billion. Sales in the Americas grew by 1%, in the Asia-Pacific region - by 14%, in Europe - by 6%, while sales in Japan fell by 9%.
Tiffany's net profit for the quarter increased 50% to $ 94.6 million. Earnings per share were $ 0.74 compared to $ 0.5 for the same period last fiscal year, while the company's sales grew 7% to $ 911 million. Meanwhile, analysts expected earnings of $ 0.58 per share and revenues of $ 888 million.