Paris: French luxury empire LVMH on Tuesday saw its share price soar over 5 per cent on the Paris stock exchange after it reported strong global growth for the first three months of 2018. The group, which owns the Dior and Louis Vuitton fashion houses as well as the Moet & Chandon champagne brand and high street make-up powerhouse Sephora, reported global revenue of €10.9 billion ($13.44 billion; Dh49.21 billion) from January to March.
That constituted an increase of 10 per cent compared to the same period of 2017, while organic growth stood at 13 per cent, a statement from LVMH said Monday. The strong earnings prompted the group’s share price to surge 5 per cent in early Tuesday trading. The first quarter results consolidated the group’s record year sales in 2017, when profits passed the €5 billion mark.
