FRANCE: Cognac sales still ahead of Champagne for Moet Hennessy in Q3
Hennessy volumes are up 6% in the year-to-date
Moet Hennessy's Cognac and spirits sales are continuing to outperform its Champagne and wine brands, the company has revealed.
Following its initial results announcement yesterday (16 October), the wines and spirits division of LVMH said that organic sales of Cognac and spirits in the three months to the end of September rose by 12% to EUR555m (US$728m). Champagne and wines sales edged up by only 6% in the same period, to EUR451m.
Previously in Q2, sales of Cognac and spirits were EUR434m, compared to Champagne and wines - EUR399m. H1 profits were up by 20% in the division overall.
In the year-to-date, Cognac and spirits organic sales were up by 27% to EUR1.57bn, while Champagne and wines sales rose by 12% to EUR1.2bn, the company said.
Hennessy Cognac volumes were up 6% globally in the nine months to the end of September, helped by "strong momentum" in China, while Champagne volumes rose 4%.
In a note issued today, analysts Nomura said that trading among spirits groups overall still looks "robust". "We remain positive on the spirits trading dynamic and see this as a relatively risk-free investment in the consumer space," it said.
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