PARIS (Reuters) - French luxury goods maker Hermes (PA:HRMS) posted a 7 percent rise in full-year operating income on Wednesday but said foreign exchange rates dragged its margin lower.
Operating profit totalled 1.299 billion euros (956 million pounds), Hermes said in a statement. The operating margin slipped to 31.5 percent of sales from 32.4 percent a year earlier.
Hermes reiterated its target for sales to grow around 8 percent this year at constant exchange rates.
Hermes said it would propose a dividend of 2.95 euros a share, as well as an exceptional dividend of 5 euros a share.