PARIS, April 10 (Reuters) - Luxury goods group LVMH posted a surge in first quarter sales on Monday that beat consensus forecasts, although the French company cautioned that its business environment remained uncertain.
Sales rose to 9.88 billion euros ($10.5 billion), up 15 percent year-on-year. According to a consensus compiled for Reuters by Inquiry Financial, the mean forecast for first quarter sales stood at 9.55 billion euros.
LVMH said it had witnessed solid growth across its main markets in Asia, Europe and the United States but added that “the trend currently observed cannot reasonably be extrapolated for the full year”.
In January, LVMH reported record revenues and profits for 2016 but sounded a note of caution for 2017, given geopolitical uncertainties ranging from the impact of Britain’s decision to leave the European Union to the new U.S. administration of President Donald Trump.
$1 = 0.9432 euros Reporting by Sudip Kar-Gupta; Editing by Sarah White