FRANCE: Moet Hennessy sees sales hold firm in YTD
- Nine-month sales up by 3% to EUR2.84bn
- Sales in three months to end of September come in at EUR1.03bn
- Champagne bounces back, but China drags on Hennessy
- LVMH group sales climb by 4% in YTD
Three continues to be the magic number for Moet Hennessy in 2013
The spirits arm of LVMH, Moet Hennessy, has seen its nine-month sales performance mirror the sales increase posted for the first six months of this year.
The division said late yesterday (15 October) that reported sales in the nine months to the end of September were up by 3% year-on-year, coming in at EUR2.84bn (US$3.84bn). The rise was the same as the 3% sales lift in H1, reported in July.
The Cognac and spirits sub-division saw sales in the YTD increase by 5.1% to EUR1.65bn, while Champagne and wines delivered flat sales, down by 0.4% to EUR1.19bn.
In the third quarter, Moet Hennessy sales totalled EUR1.03bn, split EUR577m from Cognac and spirits, and EUR455m from Champagne and wines. The quarterly performance represented a 2% lift on the corresponding period a year earlier.
Overall group sales in the YTD were up by 4% on a reported basis, totalling EUR20.72bn.
"Champagne experienced a rebound in the third quarter, driven by strong demand in the Asian and American markets, and its prestige brands made strong progress over the period," the company said in yesterday's trading update. "Hennessy Cognac continued its good progress with solid volume increases combined with its firm pricing policy."
The unit highlighted continued pressure on consumer demand in China as playing a part in its Hennessy performance. Glenmorangie, Belvedere and Wenjun were all credited with "strong volume growth" in the YTD.
The group's share price opened down this morning, by 6.5% at EUR135.35 at 1310 CEST.
To read the company's official announcement, click here.
MarketLine's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
French drinks group Belvédère has appointed Jean-Noël Reynaud as its next CEO....
LVMH owns the world’s two leading champagne brands: Moët & Chandon and Veuve Clicquot. The champagne market’s outlook however is modest with its largest market Western Europe not feeling the desire to...
LVMH’s key focus in spirits is the cognac market with its Hennessy brand. It has expanded however in other categories in recent years including single malt Scotch whisky, vodka and Chinese baijiu. Chi...
"The Future of the Wine Market in the United Arab Emirates to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape" is the result of Canadean’s extensive market and co...
- Comment - 'Craft' and the Danger of 'Romance Copy'
- Is A-B InBev/SABMiller 'Mega-Merger' Off?
- Diageo's Labels Give Industry Something to Digest
- Pernod takes positives from China Cognac bounce
- Sustainability: What Craft Teaches Multi-Nationals
- Craft is an 'abused' term - Pernod Ricard exec
- SPI Group 'disappointed' over Stolichnaya ruling
- Kraft Foods agrees Heinz merger
- Anheuser-Busch InBev lines up new chairman
- Chilli targets beer with Rekorderlig Dry Apple
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Champagne: Less Than Bubbly
- Beer Market Insights Africa 2014