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FRANCE: LVMH sales growth continues into 2006

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French luxury powerhouse LVMH Moet Hennessy Louis Vuitton has said sales in the opening months of 2006 have risen in double-digits building on the company's "record results" last year.

LVMH, whose drinks stable includes Veuve Clicquot Champagne and Hennessy Cognac, said it had had an "excellent" start to 2006 "confirming the strong momentum" of the year before.

The company yesterday (2 March) reported a 16% leap in operating profit to EUR2.7bn (US$3.2bn) for 2005. The strength of the Euro weighed slightly on the results, LVMH said. At constant currencies, operating profit rose 22%.

Revenues were up 11% to EUR12.5bn, the company noted.

LVMH said that earnings from its wine and spirits portfolio rose 7% to EUR869m thanks to increased sales of its top-end brands. Moet & Chandon saw sales grow in Japan, while Veuve Clicquot, Krug and Dom Perignon recorded strong growth in the US.

Hennessy, meanwhile, saw "strong momentum" in key markets in China, the US and Russia.

LVMH chairman and CEO Bernard Arnault praised the company's "exceptional" brand portfolio and its geographical spread worldwide.

"It has enabled LVMH to once again strengthen its position as global leader and to export worldwide its French and European manufactured products. With all these elements in place, 2006 will be another year of strong growth," he added.


Sectors: Spirits, Water

Companies: LVMH Group

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