Moet Hennessy reports 5% revenue growth in first half of 2013
Moet Hennessy, the wines & spirits business group of French multinational luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton, has reported revenues of €1,808m in the first half of 2013, a 5% organic growth, compared to revenues of €1,759m for the same period in 2012.
Profit from recurring operations increased 9% to €542m in first half of 2013 from €496m in first half of 2012.
The increased figures for LVMH brands were mainly driven by demand in Asian markets.
Despite tough economic conditions in Europe, Champagne business showed good resilience, claimed the company.
Hennessy cognac reported volume growth of 3%, driven primarily by young qualities.
Commenting on the overall group's performance, LVMH chairman and CEO Bernard Arnault said the performance of LVMH in the first half, once again, demonstrates the exceptional appeal of their brands, the attraction of their high quality artisanal products and the relevance of their strategy.
"Innovation, extreme quality, strong distribution and savoir-faire in all of our businesses reinforce our Maisons," Arnault added.
"It is with confidence that we approach the second half of the year and rely on the creativity and quality of our products, as well as the effectiveness of our teams, to pursue further market share gains in our traditional markets as well as in high potential emerging territories."