| Christian Dior Profits Rise |
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| Tuesday, 16 September 2003 | |
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Christian Dior has posted a 34 percent rise in first-half net profit and reaffirmed its goal for a significant rise in operating profits for the full year. Net profit for the French luxury goods group rose to 159 million euros from 119 million, thanks to lower interest payments on its debt, which it said dropped by more than one billion euros from a year earlier. Operating profit pushed up to 880 million euros from 844 million, with the company citing market share increases at its leading brands, including Louis Vuitton and its wine and spirits businesses. Christian Dior Couture, the company's small fashion arm, saw sales rise 10 percent to 236 million euros -- a 20 percent gain at constant exchange rates. Operating profit at the couture house increased 27 percent, thanks to the success of the John Galliano and Hedi Slimane collections and the brand's strength in Japan, the company said. Overall sales at the Dior group, which includes luxury goods giant LVMH and the Dior couture house, fell to 5.46 billion euros from 6.03 billion. LVMH reported first-half results on Friday. |

