Moët Hennessy wines and spirits reported an overall 0.2% rise in profits in 2008, compared to 2007. But the group said demand was ‘less dynamic’ in the US and Japan.
Profit from recurring operations was 1 060 million Euros, compared to 1 058 million Euros in 2007.
The statement said: “This performance was achieved thanks to an ongoing policy of price increases consistent with the Group’s value strategy and the high-end positioning of its brands.”
LVMH said regional performances varied: overall trends were positive in Europe but demand was less dynamic in the US and Japan due to market conditions. Emerging markets, such as China, Russia and the Middle East, recorded high growth.
2008 was notable for Louis Vutton Moët Hennessy for the acquisitions of the Spanish wine group Numanthia Termes and of the Montaudon Champagne house.
Acquisitions meant wines & spirits revenue was down 3% in 2008 compared to 2007 but the sector saw organic revenue growth of 1% in 2008.
