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French retail major LVMH revenue grows 26% in H1

RBR Staff Writer Published 27 July 2012

Luxury group Moet Hennessy Louis Vuitton (LVMH) has reported a 26% growth in revenue to €12.96bn in the first half (H1) of 2012, compared to €10.29bn in the same period last year.

Organic revenue moved up 12% in the first six months of this year and all business groups contributed to the performance.
Selective Retailing division, which includes duty-free retailer DFS Group, recorded revenue growth of 27% to €3.59bn in the reporting period, with organic revenue growth of 16%.

The retailer said that DFS saw excellent momentum, driven by growth in its Asian clientele.

"Operations in Hong Kong, Macau, Singapore and North America recorded strong increases. Three new concessions obtained at Hong Kong airport will open at the end of the year," the company added.

LVMH chairman and CEO Bernard Arnault said, "A host of initiatives, including constant innovation, successful iconic product lines, the development of our craftsmanship and targeted expansion, reinforce our Maisons."

Profit from recurring operations for the period amounted to €2 659m, an increase of 20% compared to the same period of last year.