LUXURY GROUP LVMH REGISTERS PROFITS OF 2 BILLION EUROS IN 2008. THE WINE AND ALCOHOL SECTOR REGISTERED AN INCREASE OF 0.2% WITH TOTAL EARNINGS OF 1.06 BILLION EUROS

The luxury group Louis Vuitton Moët Hennessy (LVMH) closed out 2008 with net profits of 2.02 billion euros, just slightly more than those for 2007, thanks in large part to the dynamism of its brands. The wine and alcohol sector registered an increase that moved it from 0.22% with 1.06 billion euros to a growth of 1% for 3.1 billion euros.

In the fourth quarter, the group headed by Bernard Arnault registered an increase in revenue of 4% with 5.2 billion euros. In 2008, profits from current operations registered a progression of 2% at 3.6 billion. The fashion sector registered an increase of 5% at 1.9 billion, perfume and cosmetics 13% at 290 million. However, the watch and jewelry sector decreased by 16% at 118 million euros and there has even been talk of possible lay-offs, though they would be very few, in this unit.