LVMH Q1 Revenues Up 29%

(RTTNews) - Luxury products maker LVMH Moet Hennessy Louis Vuitton (LVMHF.PK, LVMUY.PK) Tuesday reported first-quarter revenues of 18.00 billion euros, up 29% from 13.96 billion euros last year. On an organic basis, revenues jumped 23%.

The company said that it had a "good start to the year against a backdrop of continued disruption from the health crisis and marked by the dramatic events in Ukraine."

All business groups achieved double-digit revenue growth, except for Wines & Spirits, which "continued to see supply constraints."

Geographically, the US and Europe achieved double digit revenue growth, while Asia continued to grow over the quarter despite the impact of a tightening of health restrictions in China in March.