The LVMH Moët Hennessy Louis Vuitton Wine & Spirits division recorded a 5% increase in revenue, reaching €3.2 bl, for the fst 9m of 2016. Organic revenue grew of 7% compared to the same period in 2015 while total first half 2016 reported 9% of organic growth in the same period.
Champagne volumes grew 3% over the period, with a particularly strong performance in prestige cuvées. Hennessy cognac saw its volumes increase by 9%. The United States continued to enjoy strong growth and China showed improved momentum during the period, following the destocking of distributors in 2015. Other spirits, Glenmorangie and Belvedere continued their development.
In overall, the growth on revenues for these first 9 months overperforms the expectations. The consensus recommendation is for now OUTPERFORM (reuters)