FRANCE: Record Profit Growth Of 31 Per Cent For LVMH
LVMH Moet Hennessy Louis Vuitton, the world's leading luxury products group, today announced an increase of 31 per cent in operating profit, rising to 762m Euros for the first half of 2000. In Euro million 30/6/99 30/6/00 ChangeTurnover 3,599 5,032 + 40%Income from operations 581 762 + 31%Net income beforeamortization ofgoodwill and unusual items 309 374 + 21%This record performance is explained by the extraordinary success of the Group's products throughout the world. Global economic growth has certainly contributed to these developments. But thanks to the creativity of its teams, the LVMH Group has once again proved itself to be unique in the luxury sector, furthering its leading position in numerous areas such as leather goods (with Louis Vuitton in particular) and fragrances, the company said. Once again, the group has increased its market share in all its areas of activity. Excluding investments in the technical launch of websites at the beginning of the year, growth in income from operations and net income before amortization of goodwill and unusual items was 37 per cent.
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