Moët Hennessy Sales Climb 5% In 2018January 30, 2019
Moët Hennessy saw sales rise 5% to €5.14 billion ($5.87b) on an organic basis in 2018, while profit from recurring operations grew 5% to €1.63 billion ($1.86b). The luxury drinks group said its “firm price increase policy” and the strong performance of its prestige Champagnes drove gains last year, and noted that 2018 provided an “exceptional harvest both in terms of quantity and quality.”
Meanwhile, Moët Hennessy reported good growth for Hennessy Cognac in the U.S., but acknowledged ongoing supply constraints. According to Impact Databank’s estimate, Hennessy rose 3.5% to 4.1 million cases in the U.S. last year. Moët Hennessy said rapid progress from Scotch whiskies Glenmorangie and Ardbeg likewise contributed to progress.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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