PARIS, July 26 (Reuters) - LVMH, the world's biggest luxury group, on Wednesday undershot 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 inlude Dior, Fendi, Hennessy cognac and jeweler 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 ($4.23 billion).
This compared with 3.75 billion euros forecast in a Reuters poll of analysts.
LVMH's rivals in the luxury industry such as British luxury brand Burberry and French luxury group Hermes have also signaled better demand in mainland China and improving tourist spending in Europe.
($1 = 0.8597 euros) (Reporting by Dominique Vidalon)