FRANCE: LVMH Posts 99 Per Cent Plunge In Annual Profit
French luxury goods giant LVMH Moet Hennessy Louis Vuitton SA on Friday revealed a 99 per cent plunge in net profit for 2001 to 10 million euros from 722 million euros in 2000. The group, which sells everything from fashion collections and leather goods to wine and spirits and jewellery and cosmetics, has been hit hard by the travel and tourism slump in the wake of the September 11 terrorist attacks.
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