LVMH strong fourth quarter
24 January 2003
LVMH, the luxury goods group which includes Louis Vuitton leathergoods and clothing, reported a sales increase of 8% to euro3.84 billion in the fourth quarter of 2002. Louis Vuitton accomplished a 23% quarterly rise in sales, helped by a new Tokyo store. Group sales rose 4% to euro12.69 billion for the full year and the company have forecast at least a 25% increase in operating profit over 2001. The figures were better than expected and the group are predicting growth in 2003 despite 'the economic, political and monetary context which is likely to remain difficult.' Source: the Daily Telegraph
