Moët Hennessy Sales Up 11% Through Third QuarterOctober 18, 2011
Moët Hennessy posted an organic revenue increase of 11% to €2.306 billion ($3.2b) for the first nine months of 2011 (on a reported basis, sales were up 7%). The company said it’s seen sustained demand—and improving product mix—for its Champagne brands, including Moët & Chandon and Veuve Clicquot, through the first three quarters of the year. Hennessy Cognac, meanwhile, continues to have “excellent momentum” in Asia (despite a slight slowing of the Chinese economy in the third quarter). Its premium marques in China achieved double-digit volume growth over the nine-month period. Still, Moët Hennessy’s 3% sales rise to €871 million ($1.2b) in the third quarter represented a slower pace of growth than in the first half.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.