LVMH posts 16% rise in profit, beating expectations
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LVMH, the world's largest luxury group by sales, recorded full year profit and revenue for 2015 that outpaced analysts' expectations, despite a rocky global market.
Annual profit from recurring operations rose 16 per cent last year to 6.6 billion euros (S$10.31 billion) LVMH, a French company, said on Tuesday, a soaring earnings increase from its portfolio of over 70 brands including Louis Vuitton, Veuve Clicquot and Bulgari. Analysts predicted profit of 6.5 billion euros, according to an average of 27 estimates.
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