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Ardbeg and Glenmorangie deliver ‘remarkable’ performance
Louis Vuitton Moet Hennessy (LVMH) has heralded a “remarkable performance” from its wine and spirit division, as it broke through the €6bn annual profits barrier for the first time.
Ardbeg recorded “rapid increases” in volumes in 2013
Revealing its 2013 end-of-year financials, LVMH reported its wines and spirits portfolio, which includes Hennessy Cognac, Ardbeg and Glenmorangie Scotch whiskies, grew 4.2% in 2013, driven by “good momentum” in Asia and the US, and a “contrasted” market in Europe.
“The business group continued to reap the rewards of its value creation strategy: a focus on the high-end range, a strict pricing policy and a strong dynamic of innovation,” LVMH said.
The group claimed both its Scotch whisky brands, Ardbeg and Glenmorangie, recorded rapid increases in volumes, while sales of Hennessy were driven by the US market.
“Momentum across all brands was supported by Moët Hennessy’s powerful and flexible distribution network and sustained investments,” the report said.