Newspaper article International New York Times

LVMH Exceeds Forecasts with EUR 6.6 Billion Profit

Newspaper article International New York Times

LVMH Exceeds Forecasts with EUR 6.6 Billion Profit

Article excerpt

The company's annual profit rose 16 percent in 2015, despite shakiness in the global market for luxury personal goods.

Shares of LVMH Moet Hennessy Louis Vuitton rose Wednesday after the French luxury group announced 2015 results that outpaced analysts' expectations, despite a rocky global market.

Profit from recurring operations rose 16 percent last year to 6.6 billion euros, or $7.2 billion, LVMH said Tuesday. Analysts had predicted that profit for the group, which includes a portfolio of more than 70 brands including Louis Vuitton, Veuve Clicquot and Bulgari, would come in at EUR 6.5 billion.

Total sales were EUR 35.7 billion for 2015, a 6 percent increase in organic terms compared with 2014. Sales growth at LVMH, the world's largest maker of luxury goods by revenue, was more than twice the estimated 2 to 3 percent expansion for the industry as a whole last year. …

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