LVMH Moët Hennessy Louis Vuitton, recorded revenue of €21.8 billion in the first half of 2018, an increase of 10%, the Company said in a statement, adding that organic revenue growth was 12% compared to the same period in 2017, driven by strong growth in Asia and USA.

Excluding the impact of the termination of the Hong Kong International Airport concessions at the end of 2017, organic growth was 14%. Profit from recurring operations was €4 648 million for the first half of 2018, an increase of 28%.

The Watches & Jewellery segment did well, with Bvlgari  reporting an excellent first half for.

Organic revenue growth of the segment was 16% and profit from recurring operations was up 46%. Bvlgari continued to gain market share, and did especially well in jewellery and in the Chinese and American markets.

Bernard Arnault, Chairman and CEO of LVMH, commented: “The excellent results of the first half of the year attest to the strong desirability of our brands and the effectiveness of our strategy. The performance of the first half is even more remarkable given the unfavorable currency environment. The standards of quality and creativity required from our Maisons, which combine both modernity and tradition, are key to LVMH’s success, always driven by a long-term vision. Despite buoyant global demand, monetary and geopolitical uncertainties remain. In this context, we will stay vigilant and rely on the talent of our teams and the shared entrepreneurial passion to further increase our leadership in the world of high quality products in 2018.”

LVMH said it will continue to pursue gains in market share through the numerous product launches planned before the end of the year and its geographic expansion in promising markets, while continuing to manage costs.