Luxury goods group Compagnie Financiere Richemont AG on Tuesday reported a 16 per cent slide in five month sales to August from the year-ago profit but added revenue had improved in recent months.

The world's second-biggest luxury goods company said revenues from the jewellery, textile and leather operations dropped around 20 per cent each and did not provide a sales or earnings outlook for the full year.

Richemont said sales fell in Europe and Asia amid a soft economic environment, falling tourism levels and the aftermath of the SARS crisis.