LVMH announces 35% profits surge
Published:  06 August, 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 sales of LVMH Champagne brands – which include Moët, Veuve Clicquot, Krug and Dom Pérignon – and a strong performance from Hennessy Cognac in key markets helped raise profits from E241 million in the first half of 2009 to E326 million in 2010.

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

Revenue in wines and spirits was E1.3 billion in the first six months of this year against E1.1 billion in 2009, an increase of 21%.

Chairman and chief executive Bernard Arnault said: “Operating margin has improved considerably thanks to robust revenue growth and the control over operating costs. This focus will continue into the second half of the year.”

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