The world's biggest luxury goods group said sales rose 16% to €35.67bn (£27bn). Like-for-like sales rose 6%.
The company owns a host of the world's most famous brands, including Louis Vuitton and Christian Dior.
Chief executive Bernard Arnault said trading in France was almost back to normal after the November attacks.
The
Paris terror attacks resulted in falls of 50% at some stores and sales
were still 4% to 5% lower. LVMH makes 10% of its sales in France.
"Over time, sales are coming back to normal," Mr Arnault said.
Net
profit for 2015 was €3.57bn - lower than the €3.71bn expected by
analysts. The figure was down 37% compared with 2014, although the
company had €2.8bn in capital gains from selling its stake in rival
Hermes that year.
LVMH shares rose €9.65 to €154.80 in morning trading in Paris on Wednesday.
The company reported strong progress in Europe, the United States and Japan which helped compensate for lower sales in Asia.
Sales at the fashion and leather division, which accounted for the
bulk of revenue, rose 3% in the fourth quarter, beating analysts'
expectations of a 1% increase.
The division rose posted a 4%
annual rise in like-for-like sales, with the perfumes and cosmetics
division up 7% and watches and jewellery expanding by 8%.
Exane BNP Paribas analyst Luca Solca said the results were "a solid set of numbers with a good beat on fashion and leather".
Mr
Arnault said sales growth for Louis Vuitton was "in double-digit
terms", while Fendi was up more than 20%. However, the figures were
flattered by exchange rates given the weak euro.
LVMH will increase the dividend by 11% to €3.55 a share.
Goldman Sachs raised its target price from €164.90 to €171.90 and rated the shares as a "buy".
No comments:
Post a Comment