LVMH Posts Biggest Profit Boost Since 2012 on Fashion Gains

LVMH Moet Hennessy Louis Vuitton SE reported its strongest earnings increase in three years as sales of fashion and leather goods accelerated and its drinks unit returned to growth.

First-half profit from recurring operations rose 15 percent to 2.96 billion euros ($3.3 billion), the world’s largest luxury-goods maker said in a statement late Tuesday. Analysts predicted 2.93 billion euros, according to the average of 11 estimates compiled by Bloomberg. The increase was the most since a 20 percent gain in the first half of 2012.