LMVH Q2 sales up 9% at EUR5.1 billion - leatherbiz: Leading news site Leatherbiz

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LMVH Q2 sales up 9% at EUR5.1 billion

27/07/2011

French luxury goods group LVMH Moet Hennessy Louis Vuitton has reported first-half profits that beat analysts’ estimates.

 

Net income increased 25% to EUR1.3 billion, the Paris-based company said. The average estimate of five analysts surveyed by Bloomberg was for profit of EUR1.25 billion. Second-quarter sales advanced 9% to EUR5.1 billion.

 

LVMH has waiting lists for some of its leather products and plans to introduce new models of watches in the second half.

 

“We approach the second half of the year with confidence and are relying upon the creativity and quality of our products as well as the effectiveness of our teams to pursue further market-share gains,” LVMH CEO Bernard Arnault said in a statement.

 

 



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