LVMH bags massive profit

LVMH, the world’s biggest luxury retailer, posted a higher than expected 17 per cent jump in sales for the first-quarter of 2011 yesterday, boosted by double-digit revenue growth across all segments.

Demand for its luxury line-up, which includes brands like Louis Vuitton, Givenchy, Moet and Chandon and Christian Dior, delivered huge returns as sales for the first three months of the year were €5.25bn (£4.6bn), up from €4.47bn a year earlier, and a profit of €3.03bn.

Analysts had expected the three months to March sales to be €4.97bn.

Organic growth reached 14 per cent, the company said, above the expected range of seven to 11 per cent.

The France-headquartered company has reported strong performances in the United States, Europe and Asia, despite the earthquake that recently shocked Japan – a key luxury market for the company.