LVMH's Strong H1 Results Ease Concerns over China Economy

LVMH's Strong H1 Results Ease Concerns over China Economy

The world's largest luxury company LVMH Moët Hennessy Louis Vuitton posted better-than-expected financial results for the first quarter and first half of 2018 Buoyed by strong demand in Asia and the United States, the company's organic revenue grew 12 percent from the year before, reaching a total of 21.8 billion euros LVMH's core business group "Fashion & Leather Goods" grew by 15 percent, with Louis Vuitton performing exceptionally well.

Ahead of the earnings release, many financial analysts signaled the concern of a slowing Chinese demand caused by the ongoing trade disputes between China and the United In the conference call with financial analysts and reporters, Jean-Jacques Guiony, chief financial officer of LVMH said, "I understand the threat is there but I don't think it has materialized in any way [yet]," pointing out demand from China in Q2 actually slightly improved compared to that of Q1 for LVMH Many of the questions from financial analysts during the call concern the Chinese economy as the company is heavily exposed to it.

To combat monetary and geopolitical uncertainties, LVMH said it will continue focusing on product innovation and geographic expansion in promising markets In Europe, the share of LVMH rose 2.75 percent during the trading time to end at 301.10 euros today. . More

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