lvmh it grows less than expected and the stock drops more than one point on the Paris Stock Exchange in the morning. The largest luxury group in the world ended the year with sales up 19%, to 28,1 billion euros, substantially in line with forecasts. However, at constant exchange rates, growth was 9%, less than the +14% recorded in 2011. Operating income amounted to 5,92 billion euros, up 13% on 2011. The French giant it also reported 3,42 billion in profits, an increase of 12%.
In the fourth quarter alone, growth at constant rates nevertheless accelerated slightly, with +8%, compared to +6% in the third quarter, thanks to the recovery of the Chinese economy, the stability of demand in the United States and the increase of prices in Europe of Louis Vuitton.
Despite the uncertainty of the situation in Europe, the group aims to grow further in 2013. Lvmh will propose a dividend of 2,9 euros, compared to the coupon of 2,6 euros it distributed last year.
