Louis Vuitton Moet Hennessy has posted a leap in net profits for the first half of €599 million (£405 million). The company said that it had enjoyed “dynamic� sales over the summer months, and is looking forward to an equally strong second half. “We are very optimistic for the second half,� an ebullient chairman, Bernard Arnault, told analysts and journalists at the LVMH headquarters on Wednesday. Although currency fluctuations caused a downward adjustment of €149 million off the bottom line, Arnault said that he expects more favourable exchange rates in the second half. “I'm optimistic in as much as I hope the dollar won't come down again,� he said.

Arnault said that the group's best performing brand, Louis Vuitton, continued to generate “exceptional double-digit growth in July and August. Despite the company's difficulties in meeting customer demand for popular items like its denim handbags with the LV monogram, “we are very confident regarding the growth of Louis Vuitton�, Arnault said.

Louis Vuitton chief executive Yves Carcelle said that the company would triple the quantities of denim bags delivered to stores this fall in order to relieve growing waiting lists for the super hot items. He said that the denim range was a major opportunity for Louis Vuitton. What makes this bag even more desirable is the fact that counterfeiters have not yet been able to reproduce the look. “Nowhere have we found a single counterfeiter capable of producing denim that is jacquard and stonwashed.�

The results were generally in line with analysts' expectations. The group said accepted a €147 million one-off charge in the first half related to the closing of its Samaritaine department store. It was closed this June when it was discovered that the building did not meet safetey requirements. Had it not been for Samaritaine's closing, net profits would have surged 38 percent. Meanwhile operating profits rose 11 percent to €1.09 billion, with sales up 10 percent to €6.17 billion.