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LVMH reports impressive growth in H1 2015

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French multinational luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton, reports a 19 per cent increase to its revenue during the first half of 2015.

According to a financial report released by the group, recorded revenue reached EUR16.7 billion ($18.29bn at current exchange rates), driven by a stronger growth in Europe and the United States.

Moreover, the report reveals that LVMH’s revenue rose by 23 per cent during the second quarter of 2015, when compared with the same period last year. Meanwhile, organic sales recorded a nine per cent quarter-on-quarter increase from Q1.

A positive exchange rate was listed as one of the factors contributing to the overall positive performance for the group, underlining a double-digit growth in the fashion and leather goods segment.

In addition to that, success of newly introduced products at Louis Vuitton, the group’s flagship brand, further boosted what the group called a profitability that “remains at an exceptional level”. Another top performer this year has been Parfums Christian Dior. Earlier this year, Johnny Depp was announced as the new face of the Paris-based group’s perfume segment.

LVMH’s numbers reveal that net profit amounted to EUR1.58bn ($1.73bn), while profit from recurring operations reached EUR2.955bn ($3.236bn) since the beginning of 2015.

(EUR1=AED4.02, $1=AED3.67, at the time of publishing)

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