LVMH lifts dividend as record profits defy downturn

The world’s biggest luxury group LVMH raised its annual dividend by 20 per cent after delivering a second straight year of record sales and profits driven by its main brands Louis Vuitton and Dior.

Owner Bernard Arnault said in a statement on Thursday that LVMH was “going into this year with confidence” despite the uncertainties weighing on the global economy, and added that he believed LVMH could continue growing as it did in 2022.