FRANCE: LVMH sees significant growth in 2004
The French-based luxury goods company LVMH has said its first-quarter sales have risen 2%. Though the strength of the euro has held back growth, the company did confirm its expectations of strong growth operating profit for the year.
The maker of Dom Perignon Champagne saw sales for the three months to end-March of €2.849, compared with €2.801 billion in the year-ago period.
Excluding currency effects, divestments and acquisitions, sales grew 10%.
In a statement the company said that good growth, particularly in Asia and the US, which started in 2003, had continued. And the company said that by pursuing new markets, product launches, market share and the profitability of its leading brands, the company would be able to confirm its objective of another significant increase in operating income for 2004.
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