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
Shares of Infineon Technologies AG were losing around 4 percent in German trading after the manufacturer of semiconductors and system solutions reduced its revenue growth forecast for fiscal 2016. This was despite a surge in second-quarter profit with strong revenues. For the third quarter, the company projects revenue growth sequentially. Halliburton Company (HAL) reported a loss from continuing operations of $2.4 billion, or $2.81 per share, in the first quarter of 2016, compared to a loss of $639 million or $0.75 per share, previous year. Halliburton recorded company-wide charges related primarily to asset impairments and severance... Pfizer Inc. (PFE) reported a profit for first-quarter 2016 that increased 27 percent from last year. Both earnings per share and revenue for the quarter beat analysts' expectations. The company raised its fiscal year 2016 guidance to reflect the strong operational performance.
comments powered by Disqus
RELATED NEWS
 
Follow RTT