LVMH H1 Revenues Up 15%

(RTTNews) - LVMH Moët Hennessy Louis Vuitton, (LVMHF.PK, LVMUY.PK) the world's largest maker of luxury goods, Tuesday reported a 15 percent jump in revenues for the first half of 2023 as all segments recorded revenue increase except wine and spirits.

Net profit for the first-half surged to 8.48 billion euros from 6.53 billion euros last year.

Total revenues for the first half jumped 15% to 42.24 billion euros from 36.73 billion euros last year.

First-half revenue for wine and spirits segment slipped 4 percent year-over-year to 3.18 billion euros, while fashion and leather goods jumped 17 percent to 21.16 billion euros. The perfumes and cosmetics segment gained 11 percent to 4.03 billion euros and the watch and jewelry segment jumped 11 percent to 5.43 billion euros last year. Selective retailing segment climbed 26 percent to 8.36 billion euros.