FRANCE: LVMH upbeat on full-year as sales rise
LVMH Moët Hennessy Louis Vuitton has posted a marked lift in sales for the first nine months of 2007.
The French luxury products company today (15 October) reported an 8% lift in group sales of EUR11.45bn for the period. The company's wine and spirits division delivered sales of EUR2.07bn, a 9% increase.
Champagne and Cognac volumes increased by 8% and 11% over the period respectively, in a context of increased prices and an improvement in product mix, supported by the success of rosé Champagnes and Hennessy's premium qualities, the company said. "Following the acquisition of the brand in the US, Belvedere vodka resumed its activity in the third quarter," LVMH added. New World wines, meanwhile, saw double-digit revenue growth in all markets.
Looking forward, the group confirmed its objective of a "significant increase" in its results this year.
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