LVMH posts 16% rise in profit, beating expectations
London
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
New weight-loss, diabetes drugs reach one in eight Americans
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Cordlife says private placement is to address urgent cash needs
Cordlife substantial shareholders lay out separate plans to address issues after AGM
Disney, Warner Bros Discovery launch US streaming bundle
Indian winemaker Sula Vineyards' Q4 profit slips on mounting expenses