LVMH H1 Profit Flat, Revenues Down

(RTTNews) - Luxury goods giant LVMH Moët Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK, MC.PA) reported Tuesday nearly flat earnings in its first half amid weak revenues.

In the first half, net profit, Group share reached €5.697 billion, nearly same as last year's €5.698 billion.

Operating profit declined 3 percent year-over-year to €8.714 billion, and profit from recurring operations totaled €8.691 billion, representing a 4 percent decrease.

Revenue for the first half was €38.644 billion, down 3 percent from 39,810 billion last year. Organic revenue growth was 2 percent.

In the second quarter, total LVMH revenue stood at €19.524 billion, higher than €19.499 billion billion a year ago, with organic revenue growth of 3 percent.

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