MC Lvmh Moet Hennessy Louis Vuitton SE

   By Cristina Roca 
 

LVMH Moet Hennessy Louis Vuitton SE (MC.FR) said Wednesday that its net profit for the half of the year rose thanks to buoyant demand, and raised its interim dividend.

The world's biggest luxury-goods company said its first-half net profit was 3.27 billion euros ($3.65 billion), up 9% from EUR3 billion the year previous.

The owner of the Louis Vuitton and Dior brands said revenue for the first half was EUR25.08 billion, up 15% from EUR21.75 billion for the same period the prior year, and above analysts' expectations of EUR24.77 billion, according to a consensus estimate provided by FactSet.

The luxury conglomerate's organic revenue growth for the first half was 12%.

In the second quarter, revenue was up 15% on the year, growing 12% organically, LVMH said.

The company said demand was buoyant.

The company's key fashion and leather goods category posted 18% organic growth, outdoing a 14% consensus estimate by a landslide.

Profit from recurring operations for the first half was up 14% at EUR5.3 billion, and operating margin stood at 21.1%, slightly lower than 21.4% last year.

LVMH declared an interim dividend of EUR2.20, up from EUR2.00 last year, and said that although it remains vigilant, it is entering the second half of the year with confidence.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

July 24, 2019 12:19 ET (16:19 GMT)

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