LVMH posts big jump in Q1 revenue

Albert Robinson

LVMH Moët Hennessy Louis Vuitton, the world’s leading high quality products group, recorded revenue of 9.9 billion euros for the first quarter 2017, an increase of 15 percent. Its Watches & Jewelry business group recorded organic revenue growth of 11 percent in the first quarter of 2017.

Bvlgari gained market share and continued to innovate with new models in its emblematic jewelry lines, the firm reported.

The group said that organic revenue growth was 13 percent compared to the same period of 2016, an increase attributable to all business groups. Positive growth was achieved in Asia, Europe and the US.

During the first quarter, LVMH benefited from a favorable comparison base, particularly in Europe, where activity was affected last year by the impact of the November 2015 attacks in Paris,” LVMH said in a statement. “The trend currently observed cannot reasonably be extrapolated for the full year.”

Source Idexonline