LVMH Ends Year With Higher Revenue, Earnings
28 Gennaio 2020 - 6:37PM
Dow Jones News
By Cristina Roca
LVMH Moet Hennessy Louis Vuitton SE (MC.FR) said Tuesday that
its fourth-quarter revenue rose strongly, helping it end the year
with higher revenue and earnings.
LVMH, the world's biggest luxury company, said revenue was 15.27
billion euros ($16.83 billion) for the last quarter of the year,
growing organically by 8% from EUR13.7 billion and meeting
analysts' expectations of EUR15.21 billion, according to a FactSet
estimate.
Revenue for the year totalled EUR53.67 billion, growing
organically by 10%.
Net profit for 2019 rose to EUR7.17 billion from EUR6.35 billion
in 2018, said LVMH.
The company proposed a dividend of EUR6.80 per share, up from
EUR6 per share in 2018.
The French conglomerate's results were powered by the fashion
& leather goods division, which posted 15% organic revenue
growth. The division groups together Louis Vuitton, Dior and other
big luxury labels.
LVMH said it is "cautiously confident" about the year ahead, and
that it will continue to aim, again, to reinforce its leading
position in the sector.
Write to Cristina Roca at cristina.roca@dowjones.com
(END) Dow Jones Newswires
January 28, 2020 12:22 ET (17:22 GMT)
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