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
Abercrombie & Fitch Co. (ANF) reported a GAAP net loss attributable to company of $39.6 million for the first quarter ended April 30, 2016 compared to a loss of $63.2 million, last year. Excluding certain items last year, net loss attributable to Abercrombie & Fitch Co. increased $2.4 million. Net... Dollar General Corp. (DG) reported first-quarter net income of $295 million, or $1.03 per share compared to $253 million, or $0.84 per share, a year ago. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.95 for the quarter. Analysts' estimates typically... Anglo-Dutch oil giant Royal Dutch Shell plans to cut 2,200 more jobs, as the company continues to face lower oil prices, media reported Wednesday citing an emailed statement. The latest round of cuts would bring the total job cuts this year to at least 5,000 globally. In the U.K. and Ireland, the company plans to reduce staff working in exploration and production by 475.
comments powered by Disqus
RELATED NEWS
 
Follow RTT