Luxury retail group LVMH has said that it is confident of a strong performance in its second half, after notching up organic sales growth of 12 per cent for its first half.
Sales at the group, which includes retailers such as Louis Vuitton, Fendi, Marc Jacobs and Sephora, rose to €7.8 billion (£6.14 billion), led by strong performances in Asia, the US and Europe.
Profit from recurring operations increased 7 per cent to €1.5 billion (£1.18 billion). Operating margins climbed 20 per cent.
LVMH chairman and chief executive Bernard Arnault said the performance represents the “exceptional appeal of our brands, as well as the effectiveness of our strategy, [which is] particularly remarkable given the adverse currency and economic environment seen during this period.
“Reassured by the strong momentum in the first half of the year, the group approaches the second half with confidence.”
LVMH said it had achieved double-digit organic growth at Louis Vuitton and “notable” progress in perfumes and cosmetics at Sephora.
Fashion and leather goods delivered organic sales growth of 14 per cent. Profit from recurring operations rose to €858 million (£675.4 million).
Perfumes and cosmetics notched up organic revenue growth of 13 per cent and a 22 per cent hike in profits for the first half.
LVMH’s watches and jewellery division, which includes TAG Heuer and De Beers, reported organic revenue growth of 15 per cent, with profits up 30 per cent.