Strong leather goods performance for LVMH

Published:  29 July, 2015

LVMH Moet Hennessy Louis Vuitton SE have reported the strongest earnings increase in three years backed by strong sales of fashion and leather goods and a positive performance for its drinks unit.

Profit from recurring operations increased 15% to €2.96 billion in the first half of 2015. LVMH recorded strong sales in Europe and the U.S. The unit that includes Louis Vuitton overcame declines from the brand in China, Macau and Hong Kong to post 10% growth in the second quarter.

LVMH has reported revenue of €16.7 billion in the first half, up 19% from a year earlier.

“We are confident for the remaining part of the year, mostly due to the fact that our important businesses are enjoying strong momentum,” said Chief Financial Officer Jean-Jacques Guiony.

Source: Bloomberg Business