LVMH Moët Hennessy Louis Vuitton, the world's leading luxury products group, recorded revenue of €7.4 billion in the first half of 2007, reflecting organic growth of 12%.
All business groups enjoyed double-digit organic revenue growth. Performance was particularly good in Europe, the United States and Asia.
Profit from recurring operations increased by 11% to €1 440 million. This performance was achieved in a difficult currency environment and is even more noteworthy given the strong growth in the first half of 2006. At constant exchange rates, profit from recurring operations increased by 16%.
Group share of net profit increased by 2% in the first half of 2007. This progression is explained by the change in net financial income, which included a high level of capital gains from disposals in the first half of 2006.
Bernard Arnault, Chairman and CEO of LVMH, commented: “Our performance during the first half of the year once again demonstrates the exceptional appeal of our brands as well as the coherence and effectiveness of our strategy. The Group recorded a further increase in its current operating margin to more than 19%."
"These results are even more remarkable given the significant negative impact of exchange rates in the first half of 2007. Numerous product launches, geographic expansion in targeted, high potential markets and growing success with new clients should allow LVMH to continue its progress in the sec ond half of the year in a favorable economic environment. All these elements enable us to confirm our objective of a significant increase in results for 2007.”
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