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The wine and spirits business of the listed luxury group LVMH has recorded strong growth in sales and profits. This was announced by the company at the presentation of the figures for the first half of 2021. According to the figures, the wines and spirits division posted sales of €2.7bn in the first half of the year, representing an organic increase of 44 per cent over the 2020 period and a 12 per cent increase over the same period in 2019.
Within this, sales of Champagne and Wine were approximately €1.1 billion, representing an organic increase of 58 per cent compared to the first half of 2020. Sales of cognac and spirits reached €1.6 billion during the period, representing a 35 per cent increase. Champagne and wines contributed 319 million euros to the group's profit from continuing operations, while cognac and spirits contributed 605 million euros. The significant increase reflected "continued demand in the US and a very strong recovery in business in China as the impact of the pandemic wore off in the first half of the year", a spokesperson commented on the figures.
Champagne volumes were up 57 per cent compared to the first half of last year. This reflects the strong recovery in demand in Europe and the USA. The year-on-year increase was particularly strong in the second quarter.
(uka - Source: Company information / Photo: Wikipedia)