- Prachi Singh
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Luxury conglomerate LVMH Moët Hennessy Louis Vuitton recorded revenue of
25.1 billion euros (27.9 billion dollars) in the first half of 2019, up 15
percent, while organic sales growth was 12 percent compared to the same
period in 2018. The company said, in the second quarter, revenue increased
by 15 percent and organic revenue growth was 12 percent. Profit from
recurring operations was 5,295 million euros (5,896 million dollars) for
the first half, an increase of 14 percent, while group share of net profit
amounted to 3,268 million euros (3,639 million dollars), an increase of 9
percent.
Commenting on the first half trading, Bernard Arnault, Chairman and CEO
of LVMH, said in a statement: “These results once again illustrate the
effectiveness of our strategy and the exceptional desirability of our
Maisons, whose products transcend time. Despite buoyant demand, we will
continue to manage costs and remain vigilant into the second half of the
year.”
LVMH’s fashion segment posts robust growth
The Fashion & Leather Goods business group, LVMH added, recorded organic
revenue growth of 18 percent, while profit from recurring operations was up
17 percent with noted brands under the segment including Louis Vuitton,
Christian Dior, Fendi, Loewe, Rimowa and Loro Piana reporting sales growth
during the period under review.
The Perfumes & Cosmetics business group recorded organic revenue growth
of 9 percent, driven by the performance of flagship brands, while profit
from recurring operations was up 6 percent.
The Watches & Jewelry business recorded organic revenue growth of 4
percent, driven by jewellery and profit from recurring operations was up 5
percent. The Selective Retailing segment, LVMH said, achieved organic
revenue growth of 8 percent and profit from recurring operations was up 17
percent with Sephora recording strong revenue growth. Le Bon Marché
reported positive momentum and DFS performed very well in the Venice
Galleria and though the brand witnessed a slowdown in demand in Hong Kong
and Macao over the past few months, LVMH added that FS’s performance in
these markets was good in the first half.
The company further announced that an interim dividend of 2.20 euros
(2.45 dollars) will be paid on December 10, 2019.
Picture:Facebook/LVMH
