Jan 31, 2013, 11.12 PM | Source: Reuters
LVMH-RESULTS:LVMH pledges growth despite uncertainty in Europe
The French group said sales rose 8 percent in the last three months of the year on a like-for-like basis, after the previous quarter's 6 percent expansion.
"Despite an uncertain economic environment in Europe, LVMH is well equipped to continue its growth momentum across all business groups in 2013," it said in a statement.
In 2012, LVMH made a profit from recurring operations of 5.921 billion euros on revenue of 28.1 billion euros, broadly in line with market forecasts.
The group's results follow concerns raised earlier this month by Cartier watch maker Richemont
LVMH said Louis Vuitton, its flagship band accounting for more than half of the group's operating profit, continued to enjoy "double-digit growth" in 2012.
Like-for-like growth at the group's fashion and leather unit, which includes Louis Vuitton, came in at 5 percent in the fourth quarter, as during the preceding three months.
(Reporting by Astrid Wendlandt)