Lvmh Moet Hennessy Vuitton (EU:MC)
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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 email@example.com
(END) Dow Jones Newswires
January 28, 2020 12:22 ET (17:22 GMT)
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