FRANCE: LVMH sees 2007 open with strong Q1
LVMH Moët Hennessy Louis Vuitton has posted a lift in wine and spirits revenues for the first quarter of this year.
The French company, which also operates in a range of other luxury sectors, said today (25 April) that group sales for the first three months of 2007 were up 13% year-on-year at EUR3.8bn (US$5.18bn). The wine and spirits unit saw sales lift by 15% to EUR689m.
"The Champagne division, where volumes increased by 8%, had a good start to the year, particularly Moët & Chandon in Europe and Veuve Clicquot in Japan," the company noted. "The rosé Champagnes have made remarkable progress, most notably in the US.
"Hennessy Cognac confirmed its strong momentum with volumes up by 18% and the higher quality ranges recording the strongest growth. Its fast development in China and Russia continues."
Earlier this year, LVMH, which also sells Glenmorangie Scotch whisky, reported an 11% lift in full-year profits from the division. Operating profit reached EUR962m on the back of a 13% rise in sales to just under EUR3bn.
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