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By
Reuters
Published
Jul 25, 2013
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LVMH sales rise on demand for duty free and fashion

By
Reuters
Published
Jul 25, 2013

PARIS, France - French luxury group LVMH on Thursday posted an 8 percent rise in like-for-like first-half sales, driven by a pick-up in demand at its fashion, leather goods and cosmetics units, and strong growth at its duty free shops.

The world's biggest luxury group, which makes LV-embossed 700-euro Louis Vuitton canvas bags, Moet & Chandon champagne and Hennessy cognac, had a first-half profit on recurring operations of 2.71 billion euros ($3.59 billion), up 2 percent against last year.

This was slightly below the Thomson Reuters I/B/E/S average estimate of 2.75 billion euros.

Revenue reached 13.7 billion euros in the six months to June 30, up 6 percent on a reported basis and in line with the Thomson Reuters I/B/E/S average estimate of 13.71 billion.

LVMH also said it would pay an interim dividend of 1.2 euros a share.

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