In the first half of 2003 the Christian Dior Group recorded operating income up 4% to EUR 880 million and net profit, group share, up34 % to EUR 159 million.
The growth in operating income against a poor economic environment and a weak dollar, reflects the growth in market share achieved by the Group's star brands, notably Louis Vuitton and the wine and spirits brands. The strong growth in net income was also due to the reduction in net debt of over EUR1 billion, leading to lower financing costs.
Christian Dior Couture recorded sales up 20% on a constant exchange rate basis to EUR 236 million (10 % on current rates) and operating income grew by 27 %. This growth reflected the outstanding success of the collections of John Galliano and Hedi Slimane and the rapid expansion in Japan.
The favourable trend observed at Christian Dior Group level, which continued throughout July and August as the general operating environment improved, allows the Group to confirm its objective of tangible consolidated operating income growth in 2003.
A dividend of 0,28 euro per share will be paid on 4th December 2003.
