LVMH Q1 total revenue 18 billion euros vs yr ago 13.96 billion euros

div classBodysc17zpet90 cdBBJodivpBy Mimosa Spencerp

pPARIS Reuters Strong demand for Louis Vuitton and Dior products helped lift first quarter sales at the world‘s largest luxury goods conglomerate LVMH, showing the sector’s resilience despite geopolitical tensions and volatile stock markets.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pLVMH, which owns brands spanning Hennessy cognac and Sephora, said likeforlike sales, which strip out the effect of currency changes, rose by 23 in the three months to March to 18 billion euros. p

pThe figure beat a consensus estimate for 18 growth, cited by Jefferies.p

pHighend fashion brands drove a 30 rise in sales of its largest division, fashion and leather goods, on a likeforlike basis, beating analyst expectations of 17, according to consensus estimates cited by RBC.p

pThe company said it remained “both vigilant and confident” at the start of the year, and that growth in Asia continued over the quarter “despite the impact of a tightening of health restrictions in China.”p

p Reporting by Mimosa Spencer editing by David Evansp

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