LVMH first-half operating profit up 23 percent, cautious on second half

LVMH , the world's biggest luxury group, on Wednesdayundershot forecasts with a 23 percent rise in first-half underlying profits where growth was driven worldwide by its Louis Vuitton brand.The group, whose other key brands include Dior, Fendi, Hennessy cognac and jeweller Bulgari, said that in an environment that remained uncertain it approached the second half of the year with caution.LVMH said first-half profit from recurring operations reached 3.640 billion euros (3.24 billion pounds).