LVMH reports high-end gains for top brands

LUXURY goods group LVMH has enjoyed a glittering first half, with revenues up 15 per cent to €10.3bn (£9.1bn).

The group, whose prestige brands include Louis Vuitton, Moët and Hennessy, saw profits from recurring operations rise 22 per cent from the same time last year to €2.2bn – a reflection of the growing appetite for luxury goods, especially in emerging markets.

LVMH’s biggest earner was its fashion and leather goods arm – including labels like Fendi and Donna Karan – which saw organic revenue rise 14 per cent compared to the same time last year to €3.97bn.

Its watches and jewellery division had a revenue lift of 27 per cent year- on-year to €576m.

LVMH’s wines and spirits unit, which includes top champagne maker Moët & Chandon, had a 13 per cent earnings increase, with the biggest revenue boost coming from premier champagne cuvées such as Dom Perignon and Krug.

LVMH chairman and chief executive Bernard Arnault said: “LVMH’s excellent performance in the first half, once again, demonstrates the exceptional appeal of our brands, the attraction of our high quality artisanal products and the pertinence of our strategy.”

LMVH said it was approaching the second half “with confidence” but gave no forecasts, and promised an interim dividend of €0.80 per share.