Leading luxury goods group Moet Hennessy Louis Vuitton (LVMH) has announced a consolidated sales increase of 12% in the first half of 2001, compared to the first half of 2000. Commenting on its wine and spirits division the company said: "Sales in wines and spirits improved in the second quarter 2001 to reach E5643m (US$4.7bn) and heavy stocking at distributor level continued to weigh on sales of Champagne, especially in the US. However, there are signs that these stock levels are falling.