The French luxury group LVMH recorded a 10% increase in sales in 2018, to 46.8 billion euro, with a contribution of 5.1 billion euro from its wine and spirits division.
LVMH’s Wines and Spirits division recorded organic revenue growth of 5% compared to 2017 and a profit of €1.6 billion, supported by strong performances in China, Europe, and the United States. Overall, the group’s income rose by 21% to €10 billion.
For its Champagne brands, LVMH noted the “remarkable performance” of its prestigious vintages, with the year benefiting from an “exceptional harvest” in both quantity and quality.
The company added that its Hennessy cognac is experiencing “good growth” in the American market, while the Chinese market is experiencing “strong growth”.
The Scottish brands, Glenmorangie and Ardbeg, have also “grown rapidly”.
The company said it was “cautiously confident” about 2019, adding that it is well equipped to continue its growth momentum in all business groups.
Like many others, LVMH has confirmed that it is stocking goods ahead of the Brexit deadline of March 29.