Hermes International reported record high profit in the first half of 2018, Bloomberg reports. Producer of expensive bags benefits from sales boom in China.

Investors into luxury goods sector are closely watching how recent events in global economy influence sales in China. Hermes informed about sales growth in Asia by 13% in the first half of 2018, despite of stock market fall in Shanghai and concerns about trade war with the US. Company’s leaders confirmed that sales tendency in the region is still the same.

Recurring operating income grew in the first half of the year by 6% to 985 million euro.

Hermes’ shares returned 24% last year, while return of Bloomberg Intelligence index for European luxury goods was just 3,1%.