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LVMH success
LVMH, the world’s biggest luxury goods group, increased sales by 11% to E13.9 billion (£9.5 billion) in 2005. Profits from recurring activities rose 16% to E2.7 billion, exceeding analysts’ expectations. All divisions contributed, with the biggest, fashion and leather goods, achieving a 12% rise in profits. But the company also singled out wines and spirits for positive comment. The division, which includes Moët et Chandon and Veuve Clicquot Champagne and Hennessy Cognac, achieved a 7% profits rise to E869 million despite the effect of negative currency movements. The company said the division had achieved increased sales volumes, particularly in the high-end of its ranges, and had followed a strict pricing policy. In addition, the duty-free operations did well. ...
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