LVMH Excellent first half 2018
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €21.8 billion in the first half of 2018, an increase of 10%.
Organic revenue growth was 12% compared to the same period in 2017. It was up 14% when excluding the impact of the termination of the Hong Kong International Airport concessions at the end of 2017. The United States, Asia and Europe experienced good growth. In the second quarter, revenue increased by 11% compared to the same period of 2017, a performance in line with the trends of the beginning of the year. Organic revenue growth was 11%.
Profit from recurring operations was €4 648 million for the first half of 2018, an increase of 28%. Operating margin reached 21.4%, an increase of 2.9 percentage points. Group share of net profit amounted to €3 004 million, an increase of 41%.
Watches & Jewelry
The Watches & Jewelry business group recorded organic revenue growth of 16%. Profit from recurring operations was up 46%. Bvlgari had an excellent first half and continued to gain market share. This performance was especially notable in jewelry and in the Chinese and American markets. The iconic lines Serpenti, B-Zero 1, Diva and Octo made strong progress.
Chaumet unveiled its new high-end jewelry collection.
The momentum at TAG Heuer was reflected in the innovations of its flagship collections Carrera, Aquaracer and Formula 1, and a smaller version of its smart watch was launched.
Hublot enjoyed strong growth and benefited from the enhanced visibility of the brand as the Official Timekeeper of the FIFA World Cup.
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