They expect this EBIT measure to rise more than 20 pct to exceed 1.3 bln eur, after a strong 11 pct year earlier rise to 1.090 bln. Among figures being mooted this time are 1.311 bln by Societe Generale and 1.321 bln by JP Morgan.

The EBIT margin will also be watched for an increase from the year-earlier 17.7 pct, with estimates in the 18-19 pct range. \"LVMH has reported high and growing EBIT margins in recent years, and we expect this to continue,\" said Santander Investment Bolsa.

Net profit will also rise strongly to exceed 760 mln eur, as the year-earlier 559 mln included a 147 mln charge from closing the Samaritaine department store in Paris, the analysts said.

The results \"may give the market cause for optimism,\" according to Societe Generale, which said it expects the company\'s comments to be upbeat but not more specific than existing full year guidance of \"very significant growth in results.\" It assumes the forex impact on profit from recurring operations will be neutral after a year-earlier negative 150 mln eur. JP Morgan, saying it expects \"a very strong set of numbers,\" also anticipates a limited forex impact.

LVMH has already reported its first half sales rose 13 pct from a year earlier to 6.968 bln eur, with organic sales growing 12 pct.

In the context of any comments by LVMH about market conditions, JP Morgan said investors will watch for any signs of a slowdown by geography. Afrifocus Securities believes it already detects such a situation in Japan, where it called the company\'s 4 pct first half sales growth \"surprisingly slow.\" paris@afxnews.com mjs/cml COPYRIGHT Copyright AFX News Limited 2005. All rights reserved.

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