Updated Saturday, November 7, 2009 1:38 pm TWN, AP

Hermes revenue goes up 10 percent in 3rd quarter

PARIS -- French luxury goods maker Hermes International on Friday said sales of its Birkin bag and other high-end leather goods helped drive a 10 percent rise in revenue during the third quarter. The Paris-based luxury goods group known for its silk scarves and other chic accessories reported revenue of euro452 million (US$672 million) for the July-September period, up from euro410.5 million a year earlier.

The leather division, which makes Hermes' bags, appointment books and riding saddles, saw sales increase almost 25 percent in the third quarter, driven by what Hermes called "very strong" demand for its leather bags.

In a statement, Hermes said on present trends it will surpass its target of stable revenue this year by a slight margin.

Through the first nine months of the year, Hermes' revenue was up 1.4 percent on a comparable basis at ⁈illion. It also forecast a roughly 5 percent drop in full-year operating profit this year, due to weakness of the yen, dollar and other currencies in the second half.

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