LVMH H1 Net Profit Up 8%

(RTTNews) - LVMH Moët Hennessy Louis Vuitton, (LVMUY.PK) the world's largest maker of luxury goods, reported net profit of €1.71 billion for the first half of 2016, up 8% from €1.58 billion in the first half of 2015.

Profit from recurring operations for the first half of 2016 was €2.96 billion, same as last year.

Total revenue for first half increased 3% to €17.18 billion from €16.71 billion in the same period last year.

First-half revenue for wine and spirits segment rose 7% year-over-year to €2.06 billion, while fashion and leather goods slipped 1% to €5.89 billion. Perfumes and cosmetics segment increased 5% to €2.34 billion and watch and jewelry segment rose 4% to €1.61 billion.