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Hermes Reports Record 2013 Profit Margin as Demand Remains High

Hermes International SCA (RMS), the French maker of Birkin bags and silk ties, reported a 8.9 percent increase in 2013 earnings as it sold more high-margin clothing and accessories.

Operating profit rose to 1.22 billion euros ($1.69 billion), the Paris-based company said today in a statement before European markets opened. Analysts predicted the same amount, according to the average of 12 estimates compiled by Bloomberg. The operating margin widened to a record 32.4 percent.

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