The Paris-based group, which owns leather goods maker Louis Vuitton and Hennessy cognac, said comparable sales growth reached 4% in the three months to September 30, in line with analysts’ expectations.

This compared with 3% growth in the previous quarter and 6% in the first three months of the year.

LVMH pointed to an uncertain economic and financial environment but did not give a full-year financial target. Nor did it provide quarterly organic growth rates by division.

One analyst said that the quarter confirms a lukewarm trading environment, in which reduced Chinese consumer sentiment seems to be taking a toll on key divisions such as fashion and leather, and wine and spirits.

Like-for-like sales growth at LVMH’s fashion and leather division, its biggest, reached 3% in the nine months to September 30, compared with 4% in the first half.