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LVMH Moet Hennessy Louis Vuitton (LVMH) has reported a seven per cent increase in first-quarter sales, with a strong trade in high-end watches boosting its performance.

The French-based manufacturer of luxury goods said that overall sales rose to €3.8 billion (£2.6 billion) in the first three months of 2007.

Like-for-like sales were up by 13 per cent over the period, the maker of top brands including Veuve Clicquot champagne and Dior perfume confirmed.

Watch and jewellery sales were up 27 per cent in the first quarter, LVMH said, with the business behind its Tag Heuer watches, A G Heuer, having performed "exceptionally well" in all regions.

Sales were also up across Zenith's Defy line and Montres Dior's Christal jewellery range, which has signed US actress Sharon Stone as the face of its new advertising campaign.

LVMH's top fashion brand Louis Vuitton achieved double-digit growth in all markets except Japan, while overall sales in fashion and leather goods were up ten per cent.

Perfume and cosmetic sales increased by 15 per cent, beating underlying industry sales, with the launch of a new male fragrance Fahrenheit 32 having helped Christian Dior's product range.

Sales in wine and spirits were up 15 per cent in the first quarter, with volumes in LVMH's champagne business up eight per cent following a good start to the year by Moet & Chandon in Europe and Veuve Clicquot in Japan.

"Thanks to the strength and creativity of its brands and its expansion into new markets, LVMH will continue its growth in 2007 despite the difficult monetary environment at the beginning of the year," the company said in a statement.

LVMH added that increasing market share and the profitability of its top brands remained a priority, with the company expecting to meet its target of achieving "significant growth" over 2007.