Strong U.S. Momentum Drives Moët Hennessy In First HalfJuly 29, 2015
Ongoing progress in the U.S. propelled growth for Moët Hennessy in its fiscal first half ended in June, as the luxury drinks marketer saw revenue increase 15% on a reported basis (2% organically) to €1.93 billion ($2.13b). Driven by “sustained strong performance in the U.S. market,” flagship Cognac brand Hennessy posted a 6% rise in volume.
Meanwhile, Moët Hennessy’s Champagne business—primarily Moët & Chandon and Veuve Clicquot—rose 3% by volume, and the company added that its Estates & Wines division—with brands including Cloudy Bay, Newton, Chandon, Numanthia and others—is seeing “rapid development thanks to a very positive price mix effect.”
For the first six months of the year, Moët Hennessy’s profit from recurring operations totaled €482 million ($533m) on growth of 5%. The company’s Champagne and wine business accounted for around 43% of revenue and about 35% of profit in the first half, with Cognac and other spirits comprising the remainder.
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