Strong demand from Asia for luxury goods and recovery in more mature markets boosted sales and profits to higher-than-expected levels at LVMH in the first six months, underlining signs of a revival in the sector.
The world's biggest luxury goods group, whose brands range from Dom Pérignon champagne to Louis Vuitton handbags, reported a 53 per cent jump in net profit to €1.1bn ($1.4bn) in the six months to the end of June, compared with the same period last year, on sales 16 per cent higher at €9.1bn.
The numbers, released after the market closed, had been expected to be strong, following a good first quarter, but the 33 per cent rise in profit from recurring operations to €1.8bn was 8 per cent higher than analysts' expectations.
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