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Richemont Group has announced its financial results for the year ending March 31 2012, with its sales of jewelry and watches up 32 and 31 percent respectively. Sales in the company’s Jewellery Maisons group totaled $5.83 billion in the 12-month period ended March 31, compared to $4.42 billion in the prior-year period. Cartier and Van Cleef and Arpels performed “exceptionally well” the company said, noting that there was demand for both high-end and more accessible collections. Sales for the company’s Specialist Watchmakers – Jaeger-LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Officine Panerai, A. Lange & Sohne and Roger Dubuis has reached $2.95 billion, up from $2.25 billion last year, with all brands showing sales growth. Globally, Richemont’s total sales increased 29 percent to $11.29 billion. Profits jumped 43 percent to $1.96 billion. Gross margin held steady year-over-year at 64 percent.

The Swatch Group reported record of double digit increase with gross sales of CHF 3.36 billion ($4.1 billion) in the first half of 2011. Watch and jewelry sales soared despite production bottlenecks. Gross sales exceed the record half year 2010 by 24.2 percent at constant rates and 11.4 percent at current rates. Sales in the Watches and Jewelry segment grew 27.4 percent at constant rates or 13.3 percent at current rates, to CHF 2.91 billion ($3.55 billion). Net income of CHF 579 million ($704.8 million) is a 24.5 percent increase versus the record half year 2010, representing 18.2 percent of net sales. The company said a strongly overvalued Swiss franc negatively impacted sales by CHF 387 million at 2010 rates.

The Bulgari Group saw 24 percent sales increase in the first half of the year, including significant gains in watches and jewelry. According to results released by the Italian jewelry house, sales in the first half of 2011 were $795 million, as compared to $643 million in the first half of 2010. Net profit was $13.2 million, a strong recovery compared to the first half 2010 when the group recorded an $11.2 million loss. (Profits also were impacted by the exchange rate hedging implemented by Bulgari.) All of Bulgari’s product categories contributed to the first-half growth. Jewelry sales were up 20 percent while Watch sales grew 26 percent.