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LVMH sales up 20.4% for Q4 Thursday, 2nd February 2012
Moët Hennessy Louis Vuitton (LVMH) reported sales in its fourth quarter rose a staggering 20.4 per cent to EUR 7.35 billion, adding that it was confident it would maintain its sales momentum in 2012, despite the uncertain economic climate in Europe.
The Christian Dior, Fendi and Marc Jacobs owner said revenues for the full year grow 16 per cent to EUR 23.66 billion. LVMH cited strong growth in Europe, Asia and the United States, where Louis Vuitton posted double-digit revenue growth during the year.
Net profit rose 1 per cent to EUR 3.06 billion for the full year. Profits from continuing operations rose 22 per cent to EUR 5.26 billion, surpassing the EUR 5 billion threshold for the first time.
LVMH chairman and chief executive officer Bernard Arnault called 2011 “another vintage year” for the French conglomerate. “In 2012, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound long-term strategy,” he said.