French luxury group LVMH sees profit drop

But the company's turnover edged up 0.2% from the same time last year to €7.81 billion despite a sharp drop in sales of drinks and jewellery.

The company said its results "demonstrated good resilience" in the face of slower sales in recession-hit markets.

LVMH chief Bernard Arnault said: "The first half results once again demonstrate the exceptional appeal of our brands as well as the effectiveness of our strategy, particularly remarkable given the global economic crisis."

Source: AFP

Published courtesy of