Louis Vuitton leads the way in parent group profits
26/09/2003
Parent group to LVMH, the Christian Dior Group, has posted a 4% increase in its operating income to Eur880 million for the first half of 2003. The French firm’s net profit rose 34% to Eur159 million.
The company attributed the success to the growth in market share achieved by its star brands, in particular Louis Vuitton leather handbags and luggage. The strong growth in net income was due to a Eur1 billion reduction in net debt leading to lower financial costs.
Sales in the Christian Dior Couture division increased 20% on a constant exchange basis to Eur236 million while operating income grew 27%.
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