LVMH H1 Net Profit Up 5%

(RTTNews) - LVMH Moët Hennessy Louis Vuitton, (LVMUY.PK) the world's largest maker of luxury goods, reported net profit of €1.58 billion for the first half of 2015, up 5% from €1.51 billion in the first half of 2014.

Profit from recurring operations for the first half of 2015 rose 15% to €2.96 billion from €2.58 billion last year.

Total revenue for first half increased 19% to €16.71 billion from €14.01 billion in the same period last year, driven by strong growth in Europe and the United States.

First half revenue for wine and spirits segment rose 15% year-over-year to €1.93 billion, while that for fashion and leather goods surged 18% to €5.93 billion.

Revenue for the perfumes and cosmetics segment increased 17% to €2.16 billion and watch and jewelery segment revenue jumped 23% to €1.55 billion.

Despite the context of economic and currency uncertainties, LVMH said, it will continue to gain market share thanks to the numerous product launches planned before the end of the year and its geographic expansion in promising markets, while continuing to manage costs.

LVMH said it will pay an interim dividend of €1.35 on December 3.