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LVMH profit shows luxury is back
French luxury goods behemoth LVMH Moet Hennessy Louis Vuitton reported a 53 per cent jump in first half net profit yesterday, suggesting a strong return of high-end consumption. The world’s largest luxury goods company posted net profit for the first six months of €1.05bn (£875m), up from €687m a year ago as all divisions posted double-digit revenue growth. The 33 per cent rise in profit from recurring operations to €1.8bn was eight per cent higher than analysts’ expectations.