LVMH reports strong 1H growth rates

• LVMH (OTCPK:LVMHF, OTCPK:LVMUY) reports revenue rose 19% to €16.7B ($18.46B) in 1H.
• Organic growth for the company was 6%.
• Profit from recurring operations increased 15% to €2.576B ($2.85B) to top estimates from European investment firms.
• U.S. sales were up 11%, while Europe was also in double-digits with 12% growth. Asia revenue fell 6%.
• Revenue by business group was led by watches & jewelry (+23%) and selective retailing (+21%).
• The Bvlgari, Tag Heuer, and Sephora brands performed well during the period.
• LVMH earnings release