News

FRANCE: Sales, profits fall at Moet Hennessy in H1

Most popular

Another drinks CEO steps down - But, why?

Pernod Ricard Performance Trends 2014-2018 - data

What's coming up in soft drinks in 2019?

Bar Nøne launch proves Coca-Cola is faster

MORE
  • Half-year operating profits from wines & spirits decrease by 15% to EUR461m (US$620.8m)
  • Moet Hennessy sales in first six months of 2014 slip by 7% to EUR1.79m
  • Division sales rise in Q2, after Q1 fall

The wine and spirits arm of LVMH has reported decreases in both sales and profits in the first six months of 2014.

Moet Hennessy said earlier today (24 July) that operating profits in H1 fell by 15% year-on-year. Operating profits from Champagne and wines dipped by 9.5% to EUR152m, with profits from spirits tumbling by 16.7% to EUR309m.

Total sales from the division dipped by 7% in reported terms and by 1% in organic terms. While Champagne and wine sales were flat in the period, dipping by 0.5% to EUR723m, spirits sales fell by 10.6%.

Cognac volumes were down by 1% in the half-year, as the unit flagged "continued destocking of higher qualities in China". Champagne posted a volumes lift of 3%.

The half-year results follow an 8% fall in sales on a reported basis for the first three months of this year for Moet Hennessy.

Group sales in the half-year were up by 3% in reported terms and by 5% organically. Group net profits, however, dipped by 4% to EUR1.51bn, with operating profits dropping by 5%.

In Q2, sales of wines & spirits increased by 1%, an improvement on the 3% fall in sales in organic terms in the first quarter of the year.

On outlook, LVMH flagged the "uncertain" economic environment in Europe and the "unfavourable" currency environment. At the same time, the firm committed to "maintaining targeted investments in markets with high potential".

The group's shares closed up slightly today, by 1% at EUR141.25.

To read the company's official statement, click here.


Sectors: Company results, Spirits, Wine

Companies: LVMH Group

Related Content

Moet Hennessy Performance Trends 2013-2017 - results data

Moet Hennessy Performance Trends 2013-2017 - results data...

Brown-Forman H1 fiscal-2018 by brand & region - results data

Brown-Forman H1 fiscal-2018 by brand & region - results data...

Pernod Ricard Q3 & year-to-date fiscal-2018 sales performance - results data

Pernod Ricard Q3 & year-to-date fiscal-2018 sales performance - results data...

Carlsberg H1 2017 by region - results data

Carlsberg H1 2017 by region - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?