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
Media conglomerate Viacom, Inc. on Tuesday reported a 10 percent decline in profit for the first quarter from last year, reflecting lower revenues in the Filmed Entertainment and Media Networks segments. However, adjusted earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates. Transmission utility ITC Holdings Corp. announced Tuesday that it has entered into an agreement and plan of merger to be acquired by Canadian electric and gas utility company Fortis Inc. in a deal valued at approximately $11.3 billion. ITC shareholders will receive $22.57 in cash and 0.7520 Fortis shares per ITC share. The Coca-Cola Company (KO) reported that its fourth-quarter net income to shareowners increased to $1.24 billion or $0.28 per share from $770 million or $0.17 per share, last year. Adjusted earnings per share was $0.38, for the quarter. On average, 21 analysts polled by Thomson Reuters expected the company...
comments powered by Disqus
Follow RTT