LVMH profits jump 25%
Luxury goods group LVMH, whose brands include Louis Vuitton and Hermes, has reported a 25% rise in first-half net profit taking the total to Â€1.31 billion.
The French group’s sales were up 13% to €10.3 billion in the six months to 30 June helped by sales of watches and jewellery which saw a 27% increase year-on-year.
The group’s wines and spirits arm, which includes Moet & Chandon and Hennessy, saw earnings increase by 13% with the strongest sales coming from Dom Perignon and Krug champagnes.
LVMH chairman and chief executive Bernard Arnault commented: “LVMH’s excellent performance in the first half, once again, demonstrates the exceptional appeal of our brands, the attraction of our high quality artisanal products and the pertinence of our strategy.”
LVMH said it was approaching its second half “with confidence”.
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