LVMH Moet Hennessy Louis Vuitton, the world's leading luxury products group, recorded a 19 percent increase in profit from recurring operations during the first half of 2006 and a 35 percent increase in operating profit.
Each of the business groups recorded double-digit growth in profit from recurring operations, a performance which is even more noteworthy in view of the strong growth in the first half of 2005. Group share of net profit grew 46 percent compared to the first half of 2005. This increase was mainly attributable to the Group's improved operating profitability and financial results.
Bernard Arnault, Chairman and CEO of LVMH, commented:
"Our performance during the first half of the year once again demonstrates the exceptional appeal of our brands as well as the coherence and effectiveness of our strategy.
The Group again recorded double-digit growth in its results and continued to improve its profitability. Revenue growth over the summer has continued the trend we saw at the beginning of the year.
Numerous product launches alongside growth of our core brands, both in our traditional markets and in the emerging countries, should allow LVMH to continue its progress in the second half of the year in a well oriented economic environment.
All these elements enable us to confirm our objective of a very significant increase in results for 2006."
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