The luxury brand nicely wrapped up the quarter, enjoying returns 9% higher and peaking at 13.7 billion euros. 2018 turnover was 46.8 billion euros, while net profit was 6.35 billion (+18%).
Nor the Chinese slowdown nor the backlashes of the ongoing commercial war seem to be disturbing LVMH. After all, the Chinese cannot seem to have enough of luxury products, and keep the sales up for Louis Vuitton and Dior, as well as Bulgari, Fendi and Hennessy.
The French corporation nicely wrapped up the quarter, enjoying returns 9% higher and peaking at 13.7 billion euros. 2018 turnover was 46.8 billion euros, while net profit was 6.35 billion (+18%). On April 18th, during the next general assembly, the company will propose a 20% dividend increase equal to 6 euros per share,
Fostering a moderately positive outlook on 2019. The group is set on strengthening its leadership role in the high-end market, according to financial director Jean-Jacques Guiony. During the last quarter, Chinese customers’ home and overseas spending toward the group's leading brands registered a double-digit increase. "Compared against the rest of the year, this last quarter wasn’t marked by any particular slowdown," he added.
Regarding China's economic slowdown, the manager pointed out that “a 6.3% increase is still a big increase.”
LVMH recorded a small drawback on the US market, where Sephora registered some smaller returns. According to CFO, the US weak outcome could be related to the brand’s last season promo sales.
(Source:Class Editori)
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