Luxury products company LVMH Moet Hennessy Louis Vuitton (LVMUY.PK), Thursday reported a 20 percent growth in fourth-quarter revenues. For the full year, the company reported a 22 percent rise in profit from recurring operations.
Revenues for the fourth quarter increased to 7.356 billion euros from 6.110 billion euros last year. Organic growth for the quarter was 12 percent.
Watches and Jewelry segment revenues fgrew to 737 million euros from 298 million euros last year. Bulgari was consolidated with LVMH as of June 30, 2011.
Selective Retailing segment revenues grew to 2.058 billion euros from 1.665 billion euros in the year-ago quarter. The Sephora brand opened in two new countries in 2011: Malaysia and Mexico.
Fashion & Leather Goods revenues grew to 2.523 billion euros from 2.117 billion euros last year. Wines & Spirits segment and Perfumes & Cosmetics segments also reported growth in the quarter over last year.
For the full year, Group share of net profit rose 1 percent to 3.1 billion euros. The prior-year results included a non-recurrent financial gain, excluding which, the growth in Group share of net profit would have been 34 percent.
Profit from recurring operations for the year grew 22 percent to 5.263 billion euros from 4.321 billion euros in 2010.
Revenue for the year increased 16 percent to 23.7 billion euros, with organic growth of 14 percent. Fashion & Leather Goods revenue grew 16 percent and 15 percent, on actual and organic basis. Watches & Jewelry grew 98 percent and 23 percent, on actual and organic basis respectively.
Providing its outlook for 2012, LVMH said it is well-equipped to continue growth momentum across all business groups in 2012, after an exceptional 2011, and despite an uncertain economic environment in Europe.
The company expects to propose a dividend of 2.60 euros per share at the Annual Shareholders Meeting on April 5, 2012. An interim dividend of 0.80 euros per share was paid on December 2 of last year. The balance of 1.80 euros per share will be paid on April 25, 2012.
LVMUY.PK is currently trading at $33.09, down $0.15 or 0.45%. Over the past year, the stock traded in a range of $24.87 - $38.50.
by RTT Staff Writer
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