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Moët Hennessy rebound continues
Net sales at Moët Hennessy rose by 10% during the first half of the year.
The figures represent the first time the drinks arm of French luxury group Moët Hennessy Louis Vuitton has exceeded both sales and profits recorded in the first half of 2007, just before the onset of the global financial crisis.
Net sales of the company’s drinks brands, which include include Hennessy Cognac, Moët & Chandon and Veuve Clicquot Champagnes and Glenmorangie Scotch whisky, rose to €1.43 billion for the six months to the end of June.
The drinks division’s profits from recurring operations increased by 27% year-on-year to €413 million, it said late yesterday (26 July).
Despite the encouraging figures, the second quarter saw a marked slowdown in sales growth to just 0.9%.
The group said in a statement that Champagne performed particularly well in the first-half of the year, with strong demand for Dom Pérignon and Krug.
Elsewhere Cognac continued to perform well in Asia, while Glenmorangie and Belvedere vodka have also enjoyed strong sales.
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