LVMH Q3 organic sales growth reaches 15 pct; repeats FY guidance UPDATE |
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Mon, 15 Oct 2007 07:01
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(Adds breakdown by division; detail on FY outlook)PARIS (Thomson Financial) - LVMH said organic sales growth in the third quarter was 15 pct year-on-year, citing further market share gains for its brands.The luxury goods group said total sales for the first nine months of the year were 11.446 bln eur, up 8 pct versus 10.626 bln in the year-earlier period. Nine-month organic sales growth was 13 pct.Analysts polled by Thomson Financial News had been expecting LVMH to post organic growth of 11-13 pct in the third quarter.By division, Wines & Spirits saw organic growth of 14 pct in the first nine months of the year. LVMH cited volume increases of 8 pct and 11 pct respectively for champagne and cognac, supported by an improved product mix.Perfumes & Cosmetics recorded nine-month organic growth of 12 pct, with LVMH underlining strong performances in Europe and Asia, helped by product launches.Organic growth for Watches & Jewellery reached 22 pct for the nine-month period, including strong growth for TAG Heuer.Selective Retailing posted nine-month organic growth of 11 pct. LVMH pointed to a good performance for DFS, lifted by the growing number of Asian travellers, as well as rapid growth in Hong Kong and Singapore.The company reiterated its guidance for a 'significant increase in its results in 2007', supported by its brand momentum. The group pointed to 'a very well-oriented global economic environment', although offset partially by 'the excessive valuation of the Euro'.tfn.paris@thomson.comgt/cmr/gt/jfr/gt/jfrCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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LVMH Q3 organic sales growth reaches 15 pct; repeats FY guidance 