French luxury goods giant LVMH Moet Hennessy Louis Vuitton SA on Thursday posted a 10 per cent jump in first half profit before goodwill amortisation to 350 million euros from 318 million euros in the year-ago period.

LVMH said its core fashion and leather goods businesses enjoyed a 3.3 per cent rise in operating profit to 655 million euros and there were "significant investments" in these businesses in the first half.

It added total operating profit surged 19 per cent to 840 million euros from 708 million euros and it sees a strong performance from its fashion units in the second half due to new store openings and product launches.

Chairman and CEO, Bernard Arnault, commented: "These very encouraging results make us confident that 2002 will be an excellent year for LVMH in spite of the uncertain economic environment."