LVMH reports 15% revenue growth for the half year

LVMH

LVMH Moët Hennessy Louis Vuitton SE said it recorded revenue of €19.7 billion in the first half of 2017, an increase of 15%. Organic revenue growth was 12% compared to the same period in 2016.

All geographic areas continue to progress well. During the first half of the year, the Group benefited from a favourable comparison base, particularly in Asia but also in France, where activity was impacted last year by a decline in tourism. The current trends cannot reasonably be extrapolated for the full year.

The company said all geographic areas continue to progress well. During the first half of the year, the Group benefited from a favourable comparison base, particularly in Asia but also in France, where activity was impacted last year by a decline in tourism. The current trends cannot reasonably be extrapolated for the full year.

The spirits group said its organic revenue growth was 12% compared to the same period in 2016. All geographic areas continue to progress well. During the first half of the year, the Group benefited from a favourable comparison base, particularly in Asia but also in France, where activity was impacted last year by a decline in tourism. The current trends cannot reasonably be extrapolated for the full year.

During the first half of the year, the Group benefited from a favourable comparison base, particularly in Asia but also in France, where activity was impacted last year by a decline in tourism. The current trends cannot reasonably be extrapolated for the full year.

In the second quarter, revenue increased by 15% compared to the same period in 2016, with the notable integration for the first time of Rimowa. Organic revenue growth was 12%.

Profit from recurring operations was €3 640 million for the first half of 2017, an increase of 23%. Operating margin reached 18.5%, an increase of 1 percentage point. Group share of net profit amounted to € 2 119 million, an increase of 24%.

Bernard Arnault, Chairman and CEO of LVMH, said: “LVMH has enjoyed an excellent first half, to which all our businesses contributed. In the current climate of geopolitical and economic instability, creativity and quality, the founding values of our Group, have more than ever become benchmarks for all. The increasing digitalization of our activities furthermore reinforces the quality of the experience we bring to our customers. In an environment that remains uncertain, we approach the second half of the year with caution.”

He added that “We will remain vigilant and rely on the entrepreneurial spirit and talent of our teams to further increase our leadership in the world of high-qualityy products in 2017.”

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