Luxury goods group Moët Hennessy Louis Vuitton (LVMH) reported disappointing results for 2001 despite seeing sales rise 5% to Eur12.2 billion. ($10.78 billion). The company expects operating profit for the year to fall 20.36% to Eur1.56 billion from Eur1.959 billion last year. The overall growth in sales masked a 4% decline in travel related sales in the fourth quarter, which the company blamed on the September 11 tragedy.

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