FRANCE: Christian Dior H1 Profits Surge 40 Per Cent
French fashion house Christian Dior on Thursday posted a 40 per cent year-on-year jump in first half net profit as its couture unit swung into the black and revenue rose 3.3 per cent.
Dior, the holding company for LVMH Moet Hennessy Louis Vuitton SA, said its net profit rocketed to 119 million euros from 85 million in 2001 with operating profit soaring 22 per cent to 844 million euros and revenue up at 6.03 billion euros.
The company said revenue at its couture unit jumped 44 per cent to 216 million euros while its operating profit rose a "significant" but undisclosed amount.
It added: "This profit growth reflects the excellent health of LVMH's key brands and the exceptional growth achieved at Christian Dior couture...despite a difficult economic environment.
"This positive trend, confirmed by a very significant increase in sales and operating profit in July and August, should continue through the second half."
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