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Profit from recurring operations was €4,648 million for the first half of 2018, an increase of 28 per cent. Operating margin reached 21.4 per cent, an increase of 2.9 percentage points. Group share of net profit amounted to €3,004 million, an increase of 41 per cent.
The Fashion & Leather Goods business group recorded organic revenue growth of 15 per cent. Profit from recurring operations was up 27 per cent. The remarkable growth at Louis Vuitton continues to be driven by its exceptional creativity and by the right balance between tradition and modernity, the success of icons and the new creations by Nicolas Ghesquière.
"The excellent results of the first half of the year attest to the strong desirability of our brands and the effectiveness of our strategy. The performance of the first half is even more remarkable given the unfavorable currency environment. The standards of quality and creativity required from our Maisons, which combine both modernity and tradition, are keys to LVMH’s success, always driven by a long-term vision. Despite buoyant global demand, monetary and geopolitical uncertainties remain. In this context, we will stay vigilant and rely on the talent of our teams and the shared entrepreneurial passion to further increase our leadership in the world of high quality products in 2018," Bernard Arnault, chairman and CEO of LVMH, said.
In the buoyant environment of the beginning of this year, albeit marked by unfavourable exchange rates and geopolitical uncertainties, LVMH will continue to pursue gains in market share through the numerous product launches planned before the end of the year and its geographic expansion in promising markets, while continuing to manage costs.
"Our strategy of focusing on quality across all our activities, combined with the dynamism and unparalleled creativity of our teams, will enable us to reinforce, once again in 2018, LVMH’s global leadership position in luxury goods," LVMH said in a press release. (RR)
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