Moët Hennessy half-year result boosted by growth in U.S., China

Moët Hennessy, the wines & spirits arm of French luxury goods maker Louis Vuitton Moët Hennessy (LVMH) reported 12% revenue growth in the first-half of the year ended June 30.

Sales rose to €2.3bn from €2bn in the previous year, driven by volume increase in the United States and a robust upward momentum in China. Europe also had a strong start to the year, the company said.

Champagne volumes grew 8%, with Moët and Chandon performing well in the U.S. and China.

Cognac volumes rose 16%, from €39.4m to €45.7m, with the company maintaining market leadership across all of its product qualities.

Glenmorangie and Ardberg continued to pursue their expansion plans with their whiskies, while Belvedere vodka continued to grow internationally and reinforcing its position at nightlife venues, the company said.

Profit for the wine and spirits group climbed 21% to €681m, from €565m in 2016.

LVMH Group sales through June ending totaled €19.7bn, a 15% increase from last year’s €17.1bn. Profit from recurring operations grew 23% to €3.6bn.

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