Reports first half net profit down 22% to EUR 5.7B versus last year. The company said, “LVMH (LVMUY) showed good resilience and maintained its powerful innovative momentum despite a disrupted geopolitical and economic environment. Local demand was solid in Europe, which achieved growth on a constant consolidation scope and currency basis over the half-year period, and in the United States, which remained stable. Japan was down with respect to the first half of 2024, which had been boosted by abnormal growth in tourist spending due to the much weaker yen. The rest of Asia saw trends comparable to 2024, although there was an improvement in sales to local customers in the second quarter.”
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