LVMH records strong sales and profit growth in 2019

LVMH Moët Hennessy Louis Vuitton recorded revenue of 53.7 billion euros (59.1 billion dollars) in 2019, up 15 percent, while the company’s organic revenue growth was 10 percent. LVMH said in a statement that Europe and the United States experienced good growth over the year, as did Asia, despite a difficult environment in Hong Kong in the second half of 2019. Revenue growth in the fourth quarter was 12 percent compared to the same period in 2018 and organic revenue growth was 8 percent for the quarter. Profit from recurring operations amounted to 11.5 billion euros (12.6 billion dollars), up 15 percent, while operating margin reached a level of 21.4 percent. The company added that group share of net profit amounted to 7.2 billion euros (7.9 billion dollars), up 13 percent.