LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenues of €7.8 billion in the first half of 2008, reflecting organic growth of 12%.  The Group had excellent performances in Asia, the United States and Europe.

Profit from recurring operations increased by 7% to €1,541 million. The current operating margin improved to 20%. This performance was achieved in an unfavourable currency environment and is even more noteworthy given the strong growth in the first half of 2007.  At constant exchange rates, profit from recurring operations increased by 19%.

Group share of net profit increased by 7% in the first half of 2008.

Bernard Arnault, Chairman and CEO of LVMH, commented:
“The first half results once again demonstrate the exceptional appeal of our brands as well as the effectiveness of our strategy, particularly remarkable given the adverse currency and economic environment seen during this period.  LVMH thus proves its exceptional capacity to grow thanks to the strength of its brands, the responsiveness of its organization and the talent of its teams.  Reassured by the strong momentum in the first half of the year, the Group approaches the second half with confidence. It will rely upon the creativity and quality of its products as well as the efficiency of its teams to pursue further development in its historical markets as well as in high potential emerging markets. All these elements enable us to confirm our objective of a tangible increase in results for 2008.”

Source:LVMH
Full report:
click here