logo
Share SHARE
FONT-SIZE Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Etihad Airway's Chief Executive Officer James Hogan will leave in the second half this year. Hogan has been with the Abu Dhabi based aviation group since 2006. Chief Financial Officer James Rigney also will depart from service. Seafood lovers must now be prepared to dole out more cash than before for salmon. The price of salmon has surged globally and is now at historic highs amid acute outbreaks of sea lice. According to data from the Nasdaq Salmon Index, the price of salmon has risen by more than 15 percent in the last three months. Health-food restaurant chain Freshii Inc. has increased the price range for its initial public offering in Canada. Freshii has raised the price range for its IPO to C$10 to C$11.50 per share from the prior range of C$8.50 to C$10.0 per share, BNN reported.
comments powered by Disqus
Follow RTT