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FRANCE: Wine, spirits growth continues at LVMH

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A solid performance from its wine and spirits business has boosted first-half earnings at LVMH Moet Hennessy Louis Vuitton.

The French luxury goods powerhouse said yesterday (6 September) that profits from the division had risen 11% to EUR355m (US$453.1m), contributing to a 35% climb in group operating profit to EUR1.3bn.

LVMH said sales growth in China and Russia had "accelerated" thanks to "sustained marketing" during the period.

The company's Champagne stable was a key driver with Moet & Chandon and Dom Perignon enjoying "significant growth" in Japan and Veuve Clicquot seeing sales rise in Europe and the US.

LVMH said its flagship Cognac brand, Hennessy, had "confirmed its momentum" in the US and China, where its premium offerings enjoyed the highest growth.

Bernard Arnault, chairman and CEO of LVMH, said: "Our performance during the first half of the year once again demonstrates the exceptional appeal of our brands as well as the coherence and effectiveness of our strategy."

He added that the company was "confident" about its outlook for the rest of the year. "We can be confident about our objectives for the rest of the year," Arnault said. "The economy remains pointing in the right direction, even if the dollar is a little bit weaker."


Sectors: Spirits, Wine

Companies: LVMH Group

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