.LVMH said revenues rose 27 percent in the second quarter, as the weak euro helped fuel sales in the U.S. and Europe.
Reporting first-half results after the market close, LVMH posted a net profit of 6.53 billion euros in the first six months of 2022, up 23 percent versus the same period in 2021.
The FLG division posted sales of 9.01 billion euros in the second quarter, up by 19 percent on a like-for-like basis versus the same period last year, reflecting the outperformance of star brands Louis Vuitton andAlthough the segment’s progression was down from the 30 percent organic revenue growth recorded in the first three months of the year, it was above the market consensus forecast for a 17 percent increase.
The LVMH results come against an uncertain economic backdrop plagued by surging inflation, ongoing supply chain problems and the impact of the Chinese measures designed to curb the spread of COVID-19.
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