Luxury goods group LVMH reports 19% jump in revenues in fiscal year 2012

LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury products group, has posted a 19-percent rise on the year in revenue to €28.1 billion for fiscal year 2012.

Its watches and jewelry subsidiary led the rise in revenues, jumping 46 percent to €2.836 billion

All the group's business units posted strong sales in Europe, Asia and the United States, with Louis Vuitton, in particular, once again recording double-digit revenue growth during the year.

Revenue increased by 12 percent in the fourth quarter, compared to the same period in 2011, with organic revenue growth of 8 percent. The last quarter saw a modest increase in growth compared to the third quarter of 2012.

Profit from recurring operations increased by 13 percent to €5.921 billion, which the company said was impressive when compared to the strong growth it posted in 2011.

Group share of net profit was €3.424 billion, an increase of 12 percent compared to 2011.

Bernard Arnault, Chairman and CEO of LVMH, said: "2012 was another remarkable year for LVMH, especially in the context of the economic slowdown in Europe. All of our businesses demonstrated excellent momentum driven by innovation and the quality of their products, thereby strengthening their positions in traditional markets while continuing to develop in new ones.

"Looking beyond the appeal of our brands, it is the talent of our teams and their motivation that enables us to so effectively execute our strategy. In 2013, LVMH intends to further strengthen its global leadership position in high quality products by relying on its sound, long-term strategy," Arnault concluded.