PARIS (dpa-AFX) - Luxury products maker LVMH Moet Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK) Tuesday said its profit for 2018 was 6.354 billion euros, up 18% from 5.365 billion euros last year.
Profit from recurring operations was 10.003 billion euros, up 21% from 8.293 billion euros last year, to which all business groups contributed.
Revenues were 46.826 billion euros, up 10% from 42.636 billion euros last year. Organic revenue growth was 11%.
All business groups recorded 'excellent' growth, with Wines & Spirits up 1%, Fashion & Leather Goods rose 19%, Perfumes & Cosmetics increased 10%, Watches & Jewelry gained 8% and Selective Retailing improved 3%.
CEO Bernard Arnault said, 'LVMH had another record year, both in terms of revenue and results. In particular, profit from recurring operations crossed the €10 billion mark. The desirability of our brands, the creativity and quality of our products, the unique experience offered to our customers, and the talent and the commitment of our teams are the Group's strengths and have once again made the difference.'
'In 2019 LVMH will continue its strong dynamic of innovation, targeted investments, combining tradition and modernity, long-term vision and responsiveness, entrepreneurial spirit and a sense of responsibility. In an environment that remains uncertain, we can count on the appeal of our brands and the agility of our teams to strengthen, once again in 2019, our leadership in the universe of high quality products.'
The company reported continued growth in Europe, the United States, Asia and Japan.
Copyright RTT News/dpa-AFX
© 2019 AFX News
