The Group recorded revenue in growth of 6%. The Watches & Jewelry sector shows a lower growth.
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €13.7 billion in the first half 2013, an increase of 6%. Organic revenue growth was 8%. The Group continued to experience good momentum in the US and Asia, and continues to grow in Europe in a more difficult economic environment. With organic growth of 9%, the second quarter showed some acceleration compared to the first quarter.
Profit from recurring operations for the first half of 2013 rose to €2 712 million, an increase of 2% compared to the same period in 2012. Current operating margin reached 20%. Group share of net profit amounted to €1 577 million.
Watches & Jewelry
LVMH owns TAG Heuer, Zenith, Hublot, Chaumet, Bulgari, De Beers et FRED.
In the first half of 2013, the Watches & Jewelry business group recorded organic revenue growth of 1%, to €1310 million. Profit from recurring operations decreased by 2%, to €156 million.
The Group explains the lower first half growth by restrained purchasing by watch retailers and the voluntary closure of certain multi-brand points of sale.
