FRANCE: LVMH first half up 24%
The figure was still below analysts expectations of €282m, with the luxury goods industry hit by a fall in tourism in the period.
Operating profit was up 4% €874m, the company said.
Although it didn't give figures on how particular brands performed, the wines and spirits division saw operating profit up 16% €321m. The company did say that Moet & Chandon and Veuve Clicquot Champagnes had performed well in the UK and Japan.
First-half operating margin grew to 16.7% from 14.4% in the same period of 2002. Going forward the group said that sales trends in July and August "confirm the signs of recovery observed in June in the majority of our activities."
LVMH still expects "tangible growth in operating profit" for the full year.
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Revenue at LVMH Moet Hennessy Louis Vuitton reached €9.598bn for the first nine months of 2005, representing 12% organic growth from the corresponding period last year, the French drinks and luxury go...
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