LVMH drinks profits up 35%

28 July, 2010

French drinks and luxury goods group LVMH has reported a 35% increase in operating profit in its wines and spirits division.

A rebound in Champagne sales and a strong performance from Hennessy Cognac in its key markets helped raise profits from €241 million in the first half of 2009 to €326 million in 2010.

The group had been hit by heavy trade destocking last year.

Revenue in wines and spirits was €1.3 billion in the first six months of this year against €1.1 billion in 2009, an increase of 21%.

Chairman and chief executive officer Bernard Arnault said: “Operating margin has improved considerably thanks to robust revenue growth and the control over operating costs.

“This focus on cost control will continue into the second half of the year, despite the momentum in the markets.”




Bookmark this


Site Search

COMMENT

Richard Hemming MW asks: what’s the next step for indies?

In the not-too-distant future, when all humans are born with inbuilt VR headsets and Trump is Supreme Commander of the Known Universe, how will students of wine look back on the present era of retail in the UK? And, in such a dystopian world, why would anyone care?

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter