French luxury goods company LVMH (Moët Hennessy Louis Vuitton) saw its drinks division increase its revenue by 5% during 2016.
Sales reached €4.84 billion, up from €4.6 billion in 2015. In terms of organic growth, the company saw an increase of 7%.
Profit from recurring operations reached €1.5 billion – a jump of 10% from 2015. Volumes increased by 3% for the period.
The company said that ‘solid growth continues for champagne and prestige cuvees performed particularly well. Hennessy cognac enjoyed an excellent year with 10% volume growth.
'The American market is growing well and China saw better momentum after a tough 2015 due to destocking by distributors. Other spirits, Glenmorangie and Belvedere, continued their growth.’
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. Click subscribe to sign up for ESM: The European Supermarket Magazine
