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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Lvmh Moet Hennessy Louis Vuitton SE | EU:MC | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 15.00 | 1.96% | 782.00 | 780.00 | 790.00 | 791.50 | 770.50 | 773.00 | 232,682 | 16:40:00 |
From May 2019 to May 2024
By Matthew Dalton
PARIS--LVMH Moet Hennessy Louis Vuitton's (LVMUY) net profit jumped 14% in the second half of 2016 from a year earlier, pushed higher by strong sales across a range of its brands.
The luxury conglomerate reported Thursday that sales in the latter half of 2016 were EUR20.4 billion euros ($21.9 billion), up 7.3%. Net profit in the half was EUR2.27 billion. Sales for the entire year were EUR37.6 billion.
The results herald a potential turnaround for the luxury industry, which had seen its big-spending clients cut back over the last two years amid terror attacks in Europe, a crackdown on corruption in China and political uncertainty in the U.S.
"LVMH achieved excellent performance in 2016, within a context of geopolitical and economic uncertainty," Bernard Arnault, LVMH's founder and chief executive, said in a statement.
Write to Matthew Dalton at matthew.dalton@wsj.com
(END) Dow Jones Newswires
January 26, 2017 12:16 ET (17:16 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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