Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Reports: LVMH CEO Sees Higher Q1 Revenue Growth Than Preceding Q4

French luxury products company LVMH Moët Hennessy Louis Vuitton SA (LVMUY.PK,LVMHF.PK) expects revenue growth in the first quarter of 2012 to be higher than growth recorded in the fourth quarter of last year, according to media reports on Thursday.

At the company's annual shareholders meeting, LVMH Chief Executive Bernard Arnault reportedly said that growth in the first quarter was above that of the last quarter of the prior year. Arnault also reaffirmed his confidence in the company's outlook, citing its strong growth in emerging markets.

In early February, LVMH reported a 20 percent increase in revenue for the fourth quarter to 7.36 billion euros from 6.11 billion euros in the prior-year period. Organic growth for the quarter was 12 percent. Providing its outlook for 2012 at that time, 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.

At the annual shareholders meeting, LVMH expects to propose a dividend of 2.60 euros per share. An interim dividend of 0.80 euros per share was paid on December 2, 2011. The company expects to pay the balance of 1.80 euros per share on April 25.

In Thursday's session, LVMUY.PK is trading at $33.77,up $0.24 or 0.72 percent on a volume of 7,530 shares.

Register
To receive FREE breaking news email alerts for LVMH Moet Hennessy Louis Vuitton and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
In a surprise move, the Senate voted Tuesday to make changes to an important House highway funding bill, raising questions about whether the legislation will receive final approval before lawmakers leave town for the August recess. Stocks have given back some ground over the course of the trading day on Wednesday after failing to sustain an early upward move. The choppy trading reflects uncertainty ahead of a highly anticipated announcement from the Federal Reserve. After reporting a notable contraction in U.S. economic activity in the first quarter, the Commerce Department released a report on Wednesday showing that gross domestic product rebounded by more than anticipated in the second quarter.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.