Christian Dior Reports Strong growth in Results.Business Editors PARIS--(BUSINESS WIRE)--Sept. 16, 2003 In the first half of 2003 the Christian Dior Noun 1. Christian Dior - French couturier whose first collection in 1947 created a style that became known as the New Look (1905-1957) Dior Group recorded operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. up 4% to EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 880 million and Net profit, Group share, up 34 % to EUR 159 million. The growth in operating income against a poor economic environment and a weak dollar, reflects the growth in market share achieved by the Group's star brands, notably Louis Vuitton The Louis Vuitton Company (more commonly known simply as Louis Vuitton) is a luxury French fashion and leather goods brand and company, headquartered in Paris, France. It is a division of the French holding company, LVMH Louis Vuitton Moët Hennessy S.A. and the wines and spirits brands. The strong growth in net income was also due to the reduction in net debt of over EUR1 billion, leading to lower financing costs.
1st Half 1st Half
(in EUR millions) 2003 2002
. Sales 5 462 6 026
. Operating income 880 844
. Net profit 462 349
Group share 159 119
Christian Dior Couture recorded sales up 20% on a constant exchange rate basis to EUR 236 million (10% on current rates) and operating income grew by 27%. This growth reflects the outstanding success of the collections of John Galliano John Galliano, CBE, RDI, (born November 28 1960) is a British-Gibraltarian fashion designer. Early life and career Born Juan Carlos Antonio Galliano in Gibraltar to a Gibraltarian father and a Spanish mother, he moved to London as a child and attended Wilson's and Hedi Slimane Hedi Slimane (born July 5, 1968 in Paris) is a French fashion designer. He studied Art History at the École du Louvre, and was also educated as a tailor. From 1992 to 1995 he worked for Jean-Jacques Picart, notably on the centenary exhibition of Louis Vuitton's "LV" monogramme and the rapid expansion in Japan. The favourable trend observed at Christian Dior Group level, which continued throughout July and August as the general operating environment improved, allows the Group to confirm its objective of tangible consolidated operating income growth in 2003. A dividend of 0,28 euro per share will be paid on December 4, 2003. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion