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WINE AND SPIRITS BACK IN GROWTH FOR LVMH
Jul 29, 2015
(TDB) - Louis Vuitton Moët-Hennessy’s Q2 results have “far outpaced” analysts’ predictions on the back of strong fashion and drinks sales.
The French luxury group announced revenue of €16.7 billion in the first six months of this year, an increase of 19%. Organic revenue was up 6% on the same period in 2014.
Strong growth was, for once, particularly strong in Europe and the US – helped by a weak euro and strong dollar – and the group reported that the wines and spirits division grew in all regions save China where “destocking of distributors” is still on-going.
Organic revenue for the wines and spirits arm rose 2% between the first half of 2014 and first six months of 2015 from €1.6m to €1.9m, while profits rose 5% over the same period from €461m to €482m.
The group reported that: “The Champagne business had a good start to the year, driven by the progress of the prestige vintages, particularly in Europe and Japan. “Despite the continued destocking by distributors in China, the second quarter saw a return to organic revenue growth for Hennessy thanks to the sustained strong performance in the US market. Other spirits, Belvedere and Glenmorangie continue their development.”
Comments:
Viktoria
Sep 4, 2015
I have a question. I was in the Transit Road store the other day and was enanimixg the scotches. There were several brands that appeared to be re-labeled under Prime Malt . I was wondering what the story is behind that. The labels are on several different bottles from different distilleries and it piqued my curiosity. An associate attempted to help but the best answer he could provide was that they're doing that now , or that's just how they've been coming and with it being such a busy shopping day, I didn't want to be a bother. A more in-depth response would be much appreciated!Best regards for the new year,Brendan